TPG plans to raise $700m via two blank-check IPOs

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Private equity firm TPG could be about to rake in $700m across the initial public offering of two blank-check companies, according to sources familiar with the matter speaking with Bloomberg.

They told the publication that TPG is planning for one of their special purpose acquisition companies to focus on the technology sector and the other to specialise in environmental, social and governance targets.

The sources, who spoke anonymously due to the information being private, said that TPG planned to take the companies public in the summer. Although, they said those plans could change.

TPG has taken three companies public through previous special purpose acquisition companies: Playa Hotels & Resorts, Accel Entertainment and Magnolia Oil & Gas Corp.

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