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TPG optimistic on investment in Davao-based rural bank
LEADING global private equity firm TPG Capital is looking to scale up its investments in the Philippines following earlier deals to invest in a Davao-based rural bank and in a big mass housing developer.
“Growth rates in the Philippines have been very attractive and provides macroeconomic base to look into opportunities,” said Ganendran Sarvananthan, partner and managing director at TPG Capital.
The Philippine economy grew by 6.9 percent year-on-year in the first quarter, outpacing China and most other Asian neighbors, on the back of spending ahead of the May elections.