Texas Pacific Capital was established by David Bonderman, James Coulter and William S. Price III in 1992. The group operates in Forth Worth, San Francisco, London, Hong Kong, Tokyo and New York City. Texas Pacific focuses greatly on turnarounds, management buyouts and leveraged recapitalisations. Their focus is also on media and telecommunications, industrials, technology, travel/leisure and health care. The firm is well recognised for its deep operating capability and consistently high returns over the course of its course.
Euromoney Magazines named Texas Pacific the Best Global Private House in 2006. At this time Texas Pacific was involved in deals that comprised a record $101 billion. The company was also commended the media for its performance. TPG was named ¿The firm of the year¿ by Buyouts magazine; "North American Large Cap Private Equity Firm of the Year" by Global Finance Magazine; and TPG-Newbridge was named "Best Firm of the Year" by the Asia Venture Forum. During February 2007, Texas Pacific Group and Kohlberg Kravis Roberts announce intention to acquire TXU for about $45 billion, including debt, in the largest-ever leveraged buyout. The deal is also notable for a drastic change in environmental policy for the energy giant, in terms of its carbon emissions from coal power plants and funding alternative energy. On March 26 2007 Agreed to Purchase HealthSouth Corporation's Ambulatory Surgery Division. Furthermore, on May 20, 2007 agreed to partner with Goldman Sachs and purchase Alltel Wireless for $27 Billion.