Three blank-check companies, backed by private equity firm TPG Capital, are looking to raise over $1 billion through initial public offerings, according to regulatory filings on Monday.

The firms, TPG Pace Tech Opportunities II Corp, TPG Pace Beneficial II Corp and TPG Pace Solutions Corp, have filed to raise $450 million, $350 million and $250 million, respectively, by selling ordinary shares on the New York Stock Exchange.

TPG, a global private equity firm, has raised hundreds of millions through multiple blank-check firms, or so-called special purpose acquisition companies (SPACs) so far, some of which have already landed deals.

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Source: Nasdaq

By Sohini Podder