Private equity firm TPG shares rose £ 7.5bn in value on the first day of trading.
Private equity firm TPG saw its value rise to £ 7.5 billion in its first day of trading.
The publicly traded US investment business rose 15 percent as its shares traded on the New York Stock Exchange yesterday.
The stock was initially priced at $ 29.50 but touched $ 33.97 early in the afternoon.
US investment business TPG, which went public yesterday, rose 15 percent when its shares opened trading on the New York Stock Exchange.
The stellar initial public offering (IPO) secured the fortunes of David Bonderman and Jim Coulter, billionaire founders of TPG.
Coulter owns approximately 3.5m of the Class A shares offered in the IPO and is now worth £ 86.5million, while Bonderman owns £ 780,000.
He owns all Class B shares worth around £ 5.7 billion.
Founded in 1992, Texas-based TPG has more than 280 organizations in more than 30 countries.
Traditionally, only major institutional investors and very wealthy families were able to put their money in private equity.
But a number of firms have gone public in recent years, offering regular shareholders the opportunity to gain recognition.