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27 Feb 2026

TPG $500 Million Senior Notes Offering

"Davis Polk advised TPG Operating Group II, L.P., an indirect, wholly owned subsidiary of TPG Inc., on an SEC-registered offering of $500 million of 4.875% senior notes due 2031. Net proceeds will repay indebtedness under its senior unsecured revolving credit facility and be used for general corporate purposes."

Davis Polk advised TPG Operating Group II, L.P., an indirect, wholly owned subsidiary of TPG Inc., in connection with its SEC-registered offering of senior notes. The transaction comprised an SEC-registered offering of $500 million of 4.875% senior notes due 2031. TPG intends to use the net proceeds from the offering to repay certain indebtedness outstanding under its senior unsecured revolving credit facility and for general corporate purposes. TPG is a global alternative asset management firm founded in San Francisco in 1992, with approximately $303 billion of assets under management. The firm invests across a diversified set of strategies, including private equity, impact, credit, real estate and market solutions, and emphasizes collaboration, innovation and inclusion to create value for fund investors, portfolio companies, management teams and communities. Davis Polk represented TPG Operating Group II, L.P. (an indirect, wholly owned subsidiary of TPG Inc.) with a team composed by: partners Stephen A. Byeff and Derek Dostal and associate David Giordano (capital markets); partners David H. Schnabel and Aliza Slansky and associate Ziyuan (Constance) Zhang (tax); and partner Jack Orford and counsel Yuko Sin (sponsor finance). All members of the team are based in the firm's New York office.
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