Private equity firm TPG raises $1 billion in IPO

Private equity firm TPG raised $1 billion in its US initial public offering on Wednesday, at a valuation of $9.1 billion, a person familiar with the matter said.

TPG priced 33.9 million shares at $29.50 per share, the source said. The buyout firm had said this week it planned to sell the shares at between $28 and $31 apiece.

TPG did not immediately respond to a request for comment. Its shares will start trading on Nasdaq on Thursday.