TPG Inc is weighing strategic options for its investment in luxury jeweller APM Monaco, including a potential stake sale or an initial public offering, according to a report by Bloomberg citing unnamed sources familiar with the matter.
The US private equity firm is said to be working with advisers and may launch a dual-track process early next year, targeting a valuation of at least $2bn.
TPG initially acquired a 30% stake in APM Monaco in 2019 through a consortium including European PE firm Trail and China Synergy, a China-backed investment vehicle. A planned Hong Kong IPO in 2021 did not proceed, and the group has since explored potential interest in its stake.
APM Monaco operates approximately 500 stores worldwide, and the move reflects growing PE activity in the luxury and consumer goods sectors. TPG manages $286bn in assets globally, deploying capital across its Asia-focused PE platform.
