Private equity giant TPG (TPG. US) intends to sell its stake in Pathway Asia for $2 billion

Zhitong Finance APP learned that according to people familiar with the matter, private equity giant TPG (TPG. TPG Capital Asia, a subsidiary of US), is about to sell its slightly less than 30 percent stake in pathology Asia Holdings, a health care company, for $2 billion.

Potential buyers, including government-backed investors from Asia and the Middle East, are expected to close deals as early as the end of this month, people familiar with the matter said. Deal-related negotiations are ongoing and the investor lineup is subject to change.

TPG landed on the NASDAQ on January 13, and the first day of listing rose by 15.25%. It is reported that TPG has been willing to bet heavily on companies that are less popular with the market or riskier, but often get rewards. At the same time, it is also UBER . US) and Airbnb (ABNB. US) and other early investors in businesses.

TPG's prospectus shows that as of September 30 last year, the company had $109 billion in assets under management. In addition, TPG also invests in real estate and hedge funds.

According to the data, Pathology Asia Holdings' brands include Quest Laboratories, a third-party independent laboratory in the United States, and Gribbles Pathology, a diagnostic laboratory in Southeast Asia. The company acquired Singaporean diagnostics in 2018 and a minority stake in Australian drug testing company SafeWork Laboratories in 2019.

As of press time, TPG was down 1.90 percent at $33.01 ahead of market hours on Wednesday.