Last month, TPG Capital wowed investors at its annual meeting with more than portfolio company data. The firm, which manages some $48 billion in assets across various fund families, brought in superstar band Fleetwood Mac as part of the extracurricular entertainment, according to two of the firm’s backers.
Full Article: Wall Street Journal Blog
It’s not uncommon for private equity firms to roll out some form of evening or afternoon entertainment to break up what is often a long day of presentations at annual meetings. One of the firm’s founding partners, David Bonderman is an avid rock and roll fan and made headlines back in 2002, when he hired the Rolling Stones and John Mellencamp to play at his 60th birthday party. The firm has also brought in other well known musicians, including former members of The Eagles, at prior annual meetings, according to one of TPG’s backers. A third person familiar with TPG said that the cost of hiring Fleetwood Mac was borne by the firm itself and not its investors.
Photos by: Richseow