Deals
TPG's Bonderman Will See $425 Million Windfall in Kite Pharma Sale
- Co-founder of private equity giant initiated stake in 2011
- Billionaire holds 2.4 million shares through family office
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Gilead Sciences Inc.’s $11.9 billion acquisition of biotechnology company Kite Pharma Inc. is giving one big investor cause to celebrate.
David Bonderman, co-founder of the private equity giant TPG, is among the biggest winners in Gilead’s plan to buy Kite. The 74-year-old billionaire and his family office are set to reap a profit of at least $425 million from the purchase, based on data compiled by Bloomberg.