Private equity firm TPG is in talks to cut its stake in its credit-investing arm, TPG Sixth Street Partners (TSSP), the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
TSSP is in discussions to buy back a sizable portion of TPG's minority stake, the report said.
TSSP was most recently valued at $3.5 billion in a 2017 fundraising round.
The discussions are ongoing and the terms of a potential deal could not be learned, the report added.
TPG declined to comment.