TPG takes stake in US skincare brand Rodan + Fields

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Private equity major TPG Capital has agreed to pick up a minority investment in US skincare brand Rodan + Fields.

TPG said it would help Rodan + Fields continue to accelerate its next phase of growth as it aims to transforms the skincare industry with its “dermatology-inspired skincare products, disruptive consumer connected commerce model, and powerful consultant community”.

Firm co-founder Jim Coulter said, “As a firm with a history of investing in businesses that are fundamentally changing their industries, we see Rodan + Fields as being at the intersection of emerging consumer trends and technology disruptions.

“This is exactly the kind of partnership we look for—an outstanding brand with proven success, an experienced and talented management team, and significant runway for growth.”

In March it emerged that TPG was targeting up to $11bn for its eighth flagship buyout fund, and around $2.5bn for a sidecar healthcare fund according to Bloomberg.

The fundraise comes two years after the firm raised $10.5bn for its predecessor after picking up commitments from Teachers Retirement System of Louisiana, Oregon Public Employees Retirement Fund and Washington State Investment Board.

The fund is set to be some way off the $19bn raised for TPG Partners VI during the global financial crisis, however.

Last month Baidu agreed to sell a majority stake in its financial services business FSG to an investment group led by TPG and Carlyle in a $1.9bn deal.

Taikang Group and ABC International Holdings were also among the buyers of the company, which has been renamed Du Xioaman Financial following the deal.

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