The private equity firm’s trading debut is seen as a gauge for the health of the market.
The private equity firm TPG is set to begin trading on the Nasdaq this morning, after pricing its I.P.O. at a $9 billion valuation. Going public is the latest milestone for the 30-year-old firm — but now it must convince investors that it can compete with its publicly traded rivals.
TPG’s listing is the first big stock market debut of the year, with bankers closely watching its performance to monitor the health of the I.P.O. business. (The software company Justworks postponed its offering yesterday, citing market conditions.) TPG sold shares at $29.50, the midpoint of its expected price range.
Going public will help prepare the firm for the future, its leaders say. Having a publicly traded stock will give the