The Financial Times reported on Monday the French company
had hired bankers to look at a listing of its commodities
trading arm, or a partial sale to a sovereign wealth fund.”Taking into account the state of the (stock) market, there
is only little chance that we see a transaction in the short
term,” the source close to the company said.”A private investor is less unlikely that an IPO,” he added.
TPG, a U.S.-based firm founded in 1992, currently invests
into Asia from a $19.8 billion global fund raised in 2008, and
its $4 billion regional fund TPG Capital Partners V, raised in
the same year.The sources declined to be named as they were not authorised
to talk to the media. TPG’s external public relations advisers
were unable to provide immediate comment.The Asia fund is around 75 percent invested, one of the
sources said. Its limited partner (LP) investors, include
California Public Employees’ Retirement System, according to
Thomson Reuters data.The firm, with more than $48 billion in assets under
management globally, has current Asia investments including
Comtec Solar and Wumart Stores in China,
Shriram Transport Finance Co and Lilliput Kidswear in
India, and United Test & Assembly Centre in Singapore.
