Now, TPG looks to join Jio juggernaut with billion dollar bet

MUMBAI: US-based TPG Capital is in active discussions with Jio Platforms as investors seek to buy into Mukesh Ambani’s telecom-technology-commerce triple play, said people in the know. If a deal happens, TPG would join bulge-bracket American private equity peers KKR, Silver Lake and General Atlantic in picking up a stake in the Reliance Industries unit.

TPG is an investor in several top global technology disruptors such as Uber, AirBnB and SurveyMonkey.

The PE fund, known primarily for leveraged buyouts, has been in talks for the past few weeks and is expected to be nearing a deal that might see it invest $1-1.2 billion, similar to the previous rounds in Jio Platforms, said the people mentioned earlier. One of them said the investment could be as high as $1.5 billion.