Solinftec is a global ag-tech company specializing in providing technologies for agribusiness . The company is headquartered in Araçatuba , São Paulo , Brazil.
53-573: In 2007, Solinftec was founded by a group of Cuban automation engineers in Araçatuba, Brasil. Initially, Solinftec focused on developing solutions for the sugar and ethanol industry, which is a major sector in Brazil and nowadays cover the main crops such as row crops and perennials. The company's first product was a machine monitoring system that allowed sugar and ethanol mills to optimize their production processes sending information in real-time. In 2011,
106-596: A convertible preferred stock that can be converted into 22.1% of Oxford shareholding. The company completed a buyback of TPG's PIPE convertible in 2000, which would ultimately be acquired by UnitedHealth Group , in 2004. In 1999, TPG invested in Piaggio S.p.A. , Bally International (including Bally Shoe ), and ON Semiconductor . T3 Partners was started in 2001 to invest alongside the main fund in technology-oriented investments. In 2000 TPG and Leonard Green & Partners invested $ 200 million to acquire Petco ,
159-530: A 2014 study, SWFs are not created for reasons related to reserve accumulation and commodity-export specialization. Rather, the diffusion of SWF can best be understood as a fad whereby certain governments consider it fashionable to create SWFs and are influenced by what their peers are doing. As market participants, SWFs influence other institutional investors, who may see investments made alongside SWFs as inherently safer. This effect can be seen with increasing frequency, especially with regard to investments made by
212-594: A 70% stake in the new standalone company. The deal was closed on August 2, 2021. In July 2021, TPG announced it had raised $ 5.4 billion in a first close for its inaugural TPG Rise Climate fund, a climate investing strategy focused on commercially viable climate technologies. Institutional investment backers included Allstate , the Ontario Teachers’ Pension Plan , and the Washington State Investment Board. Concurrent with
265-401: A deal for ₹ 39 billion . In 2020, TPG joined Diligent Corporation 's Modern Leadership Initiative and pledged to create five new board roles among its portfolio companies for racially diverse candidates. On February 25, 2021, AT&T announced that it would spin-off DirecTV , U-verse and AT&T TV into a separate entity, selling a 30% stake to TPG Capital while retaining
318-567: A fee of around $ 600 million. TPG and movie producer Robert Simonds, Jr. , announced in March 2014 that they had entered a partnership with China's Hony Capital to produce up to 10 "star-driven" films a year, with mid-range budgets of about $ 40 million per film. In April 2014, it was announced that TPG had invested £200 million in Victoria Plumb after buying a majority stake. In November 2014, Prezzo Holdings agreed to
371-689: A joint-venture to invest in emerging markets, particularly in Asia and, later, in Latin America. In June 1996, TPG acquired the AT&;T Paradyne unit, a multimedia communications business, from Lucent Technologies for $ 175 million. Also in 1996, TPG invested in Beringer Wine , Ducati Motorcycles and Del Monte Foods . In 1997, TPG raised over $ 2.5 billion for its second private equity fund. TPG's most notable investment that year
424-507: A notable exception to this more typical model. Stabilization SWFs are created to reduce the volatility of government revenues, to counter the boom-bust cycles' adverse effect on government spending and the national economy. Savings SWFs build up savings for future generations. One such fund is the Government Pension Fund of Norway . It is believed that SWFs in resource-rich countries can help avoid resource curse , but
477-749: A period in which a significant and apparently unexplained spike occurred in the market value of the certificates. On June 10, 2010, TPG announced an acquisition of Vertafore, a provider of software for the insurance industry, for $ 1.4 billion. On July 13, 2011, affiliates of TPG Capital acquired PRIMEDIA for approximately $ 525 million, or $ 7.10 per share in cash. TPG and fellow private equity firm Apollo Global Management are set to IPO their stake in Norwegian Cruise Lines in 2013. In July 2013, TPG announced it would buy global education publisher TSL Education, later TES Global, publishers of TES magazine ) from Charterhouse Group , for
530-480: A private equity investor in Greek mobile phone operator WIND Hellas , formerly TIM Hellas, which filed for bankruptcy protection late 2009. Morgenson raised questions about the circumstances in which TPG and fellow private equity investors Apax Partners of London redeemed a significant quantity of "convertible preferred equity certificates" held by them to repay their own "deeply subordinated shareholder loans " during
583-658: A range of industries including consumer/retail, media and telecommunications , industrials, technology, travel, leisure, and health care. TPG became a public company in January 2022, trading on the NASDAQ under the ticker symbol “TPG”. TPG has historically relied primarily on private equity funds , pools of committed capital from pension funds , insurance companies , endowments , fund of funds , high-net-worth individuals , sovereign wealth funds , and from other institutional investors . Texas Pacific Group, later TPG Capital,
SECTION 10
#1732798658685636-620: A research center in Shenzhen, southwest China. In Cali, Colombia, the office serves as a hub for Latin America, where the company operates in six countries. TPG Inc. TPG Inc. , previously known as Texas Pacific Group and TPG Capital , is an American private equity firm based in Fort Worth, Texas . TPG manages investment funds in growth capital, venture capital , public equity , and debt investments. The firm invests in
689-424: A £303.7 million takeover by TPG. In the first half of 2014, the company started to raise funds for a real-estate specific fund. It had a goal of $ 1.5 billion to $ 2 billion. By October 2015, the company had exceeded its goal, raising more than $ 2 billion. In 2016, TPG partnered with Bono and Jeff Skoll to launch The Rise Fund, a social impact investment fund. In August 2016, TPG Growth,
742-538: Is not always possible or desirable to hold this excess liquidity as money or to channel it into immediate consumption. This is especially the case when a nation depends on raw material exports like oil, copper or diamonds. In such countries, the main reason for creating a SWF is because of the properties of resource revenue: high volatility of resource prices, unpredictability of extraction, and exhaustibility of resources. SWFs are primarily commodity-based and many have been established by oil-rich states. SWFs of China are
795-704: Is now worth $ 853 billion. Another early registered SWFs is the Revenue Equalization Reserve Fund of Kiribati . Created in 1956, when the British administration of the Gilbert Islands in Micronesia put a levy on the export of phosphates used in fertilizer , the fund has since then grown to $ 520 million. SWFs are typically created when governments have budgetary surpluses and have little or no international debt. It
848-564: Is widely believed most have diversified hugely into assets other than short-term, highly liquid monetary ones, though almost no data is publicly available to back up this assertion. The term "sovereign wealth fund" was first used in 2005 by Andrew Rozanov in an article entitled, "Who holds the wealth of nations?" in the Central Banking Journal . The previous edition of the journal described the shift from traditional reserve management to sovereign wealth management; subsequently
901-743: The Kuwait Investment Authority during the Gulf War managed excess reserves above the level needed for currency reserves (although many central banks do that now). The Government of Singapore Investment Corporation , Temasek Holdings , or Mubadala are partially the expression of a desire to bolster their countries' standing as an international financial centre. The Korea Investment Corporation has since been similarly managed. Sovereign wealth funds invest in all types of companies and assets, including startups like Xiaomi and renewable energy companies like Bloom Energy. According to
954-712: The Nasdaq stock exchange through an IPO at a $ 9 billion valuation. In April 2022, the company purchased a majority stake in Morrow Sodali, a proxy firm based in New York. In May 2023, TPG agreed to acquire alternative investment firm Angelo Gordon in a cash and stock deal valued at $ 2.7 billion. In July 2023, together with Francisco Partners, TPG agreed to acquire web tracking and analytics firm New Relic in an all-cash deal valued at $ 6.5 billion. On September 30, 2024, AT&T announced that it
1007-799: The central bank . Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve positions held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other industrial and financial holdings. These are assets of
1060-490: The $ 2.3 billion leveraged buyout of Burger King from Diageo . However, in November the original transaction collapsed, when Burger King failed to meet certain performance targets. In December 2002, TPG and its co-investors agreed on a reduced $ 1.5 billion purchase price for the investment. The TPG consortium had support from Burger King's franchisees, which controlled approximately 92% of Burger King restaurants at
1113-572: The AgFunder Award for Brazil, considered the ‘Global AgTech Oscar’ as the most innovative international startup in the Farm Tech category. In 2020, Solinftec received a US$ 40 million investment in a series B round and a year later started partnership with IBM. In 2022, the company launched Solix Ag Robotics, a robot that analyse the health of plants and assesses their nutritional content, looks for weeds, and evidence of insect damage. Also,
SECTION 20
#17327986586851166-535: The Government Pension Fund of Norway, Abu Dhabi Investment Authority , and Temasek Holdings, and China Investment Corporation. SLFs help facilitate a state's ability to use its selective equity investments to promote its industrial policies and strategic interests. The growth of sovereign wealth funds is attracting close attention because: The governments of SWFs commit to follow certain rules: A number of transparency indices sprang up before
1219-873: The Principles, representing collectively 80% of the assets managed by sovereign funds globally or US$ 5.5 trillion. Assets under management of SWFs amounted to $ 7.94 trillion as of 24 December 2020. Countries with SWFs funded by oil and gas exports, totaled $ 5.4 trillion as of 2020. Non-commodity SWFs are typically funded by transfer of assets from official foreign exchange reserves, and in some cases from government budget surpluses and privatization revenues. Middle Eastern and Asian countries account for 77% of all SWFs. Numerous SWFs have gone bust throughout history. The most notable ones have been Algeria's FRR, Brazil's FSB , Ecuador's numerous SWF arrangements, Papua New Guinea's MRSF, and Venezuela's FIEM and FONDEN. The main reason why these funds have been exhausted
1272-707: The Santiago Principles, some more stringent than others. To address these concerns, some of the world's main SWFs came together in a summit in Santiago , Chile, on 2–3 September 2008. Under the leadership of the IMF, they formed a temporary International Working Group of Sovereign Wealth Funds. This working group then drafted the 24 Santiago Principles , to set out a common global set of international standards regarding transparency, independence, and accountability in
1325-671: The United States. While the PSF was first funded by an appropriation from the state legislature, it also received public lands at the same time that the PUF was created. The first SWF established for a sovereign state is the Kuwait Investment Authority , a commodity SWF created in 1953 from oil revenues before Kuwait gained independence from the United Kingdom. As of July 2023, Kuwait's Sovereign Wealth Fund, or locally known as Ajyal Fund,
1378-551: The company developed SolinfNet, a communication network between devices that allows data transmissions in remote regions where is no internet connection. In 2016, Solinftec closed the Series A investment round, and in 2017-2018 got undisclosed investments from TPG and Agfunder. In April 2018, Solinftec presented its virtual assistant, Alice, that helps to control any process in the field. In 2017-2018 got undisclosed investments from TPG and Agfunder . In 2019, Solinftec won
1431-416: The company developed the first solution to traceability for certification of production origin—Sugarcane Digital Certificate. In 2012, the company launched Sugarcane Harvesting Optimization (Single queue) a system that, through sensors and algorithms, generates efficiency in distribution of tractors and trucks in the sugarcane harvesting areas, promoting substantial cost reductions in the operation. In 2013,
1484-660: The controversial acquisition of Gemplus SA , a smart card manufacturer. TPG won a struggle with the company's founder, Marc Lassus, for control of the company. Also in 2000, TPG completed an investment in Seagate Technology . In 2001, TPG acquired Telenor Media , a Norwegian phone-directory company, for $ 660 million, and shortly thereafter acquired a controlling interest in silicon-wafer maker MEMC Electronic Materials . In July 2002, TPG, together with Bain Capital and Goldman Sachs Capital Partners , announced
1537-694: The country, Sinop, Nova Mutum and Querência, in Mato Grosso, Luiz Eduardo Magalhães, in Bahia, and Balsas, in Maranhão. In total, the company operates in more than 10 countries. Since 2019, it was launched in West Lafayette, Indiana, USA, in partnership with the renowned Center for Food and Agricultural Business at Purdue University. The company also has an office in Saskatchewan , Canada, and
1590-531: The definitive sale for $ 1.04 billion in cash of its consumer packaging division to the Texas Pacific Group. In early 2006, as TPG was completing fundraising for its fifth private equity fund, co-founder Bill Price announced that he would reduce his work at the firm. On December 1, 2006, it was announced TPG and Kohlberg Kravis Roberts had been exploring the possibility of a $ 100 billion leveraged buyout of Home Depot . In early 2007,
1643-558: The device monitors the overall ecosystem of the field, providing real-time information to the producer. The platform features three main functionalities mentioned below: In addition to all the functionalities mentioned above, the use of Solix prevents soil compaction, as it is a lightweight device that travels at 1 mph in the field, providing accurate visibility of field conditions. AgriTech has over 800 employees globally, 330 in research and development alone. In Brazil, besides its headquarters, it has seven more offices in different parts of
Solinftec - Misplaced Pages Continue
1696-527: The device monitors the state of the entire field's ecosystem. Solinftec serves the largest agribusiness groups such as Cofco Agri, Biosev, Raízen, Usina Coruripe, Bunge, Tereos, Atvos, Amaggi, Bom Jesus, Fazendas Bartira, Grupo Bom Futuro, SLC Agrícola, LDC Juice, AgroTerenas, etc. In 2021, the company launched Solix Ag Robotics, a 100% autonomous robot equipped with 4 solar panels that analyzes plant health and assesses its nutritional content, searches for weeds, and detects evidence of insect damage. Additionally,
1749-511: The firm officially changed its name to TPG , rebranding all of its funds across different geographies. In August 2007, Midwest Air Group, parent company of Midwest Airlines, signed a definitive merger agreement to be acquired by an affiliate of TPG Capital in a transaction valued at approximately $ 450 million. On April 7, 2008, TPG led a $ 7 billion investment in Washington Mutual . On September 25, 2008, Washington Mutual
1802-415: The fund close, the firm formed Rise Climate Coalition, organized to scale climate technologies and share best-practices. Members include individuals and representatives from companies such as Apple , Bank of America , Honeywell , Boeing , and John Deere . In April 2022, the fund announced the final close of TPG Rise Climate with $ 7.3 billion in total commitments. On January 13, 2022, TPG went public on
1855-637: The growth equity and smaller buyout investment arm of TPG Capital, acquired technology staffing firm Frank Recruitment Group in a deal that valued the company at £200 million. In January 2017, TPG acquired a majority of A&O Hotels and Hostels , Europe's biggest privately owned hostel platform, based in Germany. On January 25, 2017, TPG announced that after a nearly two-year search, it had hired Bradford Berenson as its general counsel. Berenson had been vice president and senior counsel for litigation and legal policy for General Electric (GE), where he
1908-488: The last half of 2012. In the first half of 2014, global sovereign wealth fund direct deals amounted to $ 50.02 billion according to the SWFI. Sovereign wealth funds have existed for more than a century, but since 2000, the number of sovereign wealth funds has increased dramatically. The first SWFs were non-federal U.S. state funds established in the mid-19th century to fund specific public services. The U.S. state of Texas
1961-484: The literature on this question is controversial. Governments may be able to spend the money immediately, but risk causing the economy to overheat, e.g., in Hugo Chávez 's Venezuela or Shah -era Iran. In such circumstances, saving money to spend during a period of low inflation is often desirable. Other reasons for creating SWFs may be economic, or strategic, such as war chests for uncertain times. For example,
2014-645: The market. SWFs grew rapidly between 2008 and 2021, with global assets under management by these funds increasing from approximately $ 4 trillion to more than $ 10 trillion. SWFs invest in a variety of asset classes such as stocks, bonds, real estate, private equity and hedge funds. Many sovereign funds are directly investing in institutional real estate. According to the Sovereign Wealth Fund Institute's transaction database around US$ 9.26 billion in direct sovereign wealth fund transactions were recorded in institutional real estate for
2067-409: The pet supplies retailer as part of a $ 600 million buyout. Within two years they sold most of it in a public offering that valued the company at $ 1 billion. Petco's market value greatly increased by the end of 2004 and the firms would ultimately realize a gain of $ 1.2 billion. Then, in 2006, the private equity firms took Petco private again for $ 1.68 billion. In 2000, TPG completed
2120-405: The purchase on March 10, 2005. TPG entered the film production business in late 2004, in the major leveraged buyout of Metro-Goldwyn-Mayer . A consortium led by TPG and Sony completed the $ 4.81 billion buyout of the film studio. The consortium also included media-focused firms Providence Equity Partners and Quadrangle Group , as well as DLJ Merchant Banking Partners . The transaction
2173-735: The sovereign nations that are typically held in domestic and different reserve currencies (such as the dollar , euro , pound , and yen ). Such investment management entities may be set up as official investment companies, state pension funds, or sovereign funds, among others. There have been attempts to distinguish funds held by sovereign entities from foreign-exchange reserves held by central banks. Sovereign wealth funds can be characterized as maximizing long-term return , with foreign exchange reserves serving short-term "currency stabilization", and liquidity management. Many central banks in recent years possess reserves massively in excess of needs for liquidity or foreign exchange management. Moreover, it
Solinftec - Misplaced Pages Continue
2226-466: The takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. At the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction later ceded to the buyout of Freescale Semiconductor . The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. On May 15, 2006, Smurfit-Stone reported
2279-510: The term gained widespread use as the spending power of global officialdom has rocketed upward. China's sovereign wealth funds entered global markets in 2007. Since then, their scale and scope have expanded significantly. SWFs were the first institutions to use sovereign capital in an effort to contain the financial damage in the early stages of the 2007-2008 global financial crisis . SWFs are able to react quickly in such circumstances because unlike regulators, SWFs actively participate in
2332-456: The time of the transaction. Under its new owners, Burger King underwent a brand overhaul including the use of The Burger King character in advertising. In February 2006, Burger King announced plans for an initial public offering . In November 2003, TPG provided a proposal to buy Portland General Electric from Enron . However, concerns about debt and local politics led to Oregon's Public Utilities Commission regulators to deny permission for
2385-622: The way that SWFs operate. These were published after being presented to the IMF International Monetary Financial Committee on 11 October 2008. They also considered a standing committee to represent them, and so a new organisation, the International Forum of Sovereign Wealth Funds was set up to maintain the new standards going forward and represent them in international policy debates. As of 2016, 30 funds have formally signed up to
2438-725: Was "responsible for litigation, government and internal investigations, compliance, and legal policy worldwide." From 2001 to 2003, Bereson served as Associate White House Counsel to President George W. Bush . In 2017, Bonderman left the board of Uber "after he made a sexist comment in response to Arianna Huffington at an Uber meeting". In July 2017, Ajay Kanwal and Naveen Chopra joined TPG as senior advisors. In September 2017, TPG Capital acquired majority stake in Australia's largest contract research organization, Novotech Clinical Research. In November 2017, TPG Capital acquired Mendocino Farms ; former Yard House CEO Harald Herrmann
2491-483: Was announced in September 2004, and completed in early 2005. Also in 2005, TPG was involved in the buyout of SunGard in a transaction valued at $ 11.3 billion. TPG's partners in the acquisition were Silver Lake Partners , Bain Capital , Goldman Sachs Capital Partners , Kohlberg Kravis Roberts , Providence Equity Partners , and Blackstone Group . This represented the largest leveraged buyout completed since
2544-462: Was appointed as its CEO. In 2017–2018 TPG invested in Solinftec . In February 2018, TPG backed former AOL CEO Jon Miller in acquiring Fandom (formerly Wikia, Inc.). Miller was named co-chairman of Wikia, alongside Jimmy Wales , and TPG Capital director Andrew Doyle assumed the role of interim CEO. In March 2018, Manipal Hospitals and TPG Capital acquired Fortis Healthcare as part of
2597-490: Was founded in 1992 by David Bonderman , James Coulter and William S. Price III . Prior to founding TPG, Bonderman and Coulter had worked for Robert Bass , making leveraged buyout investments during the 1980s. In 1993, Coulter and Bonderman partnered with GE Capital vice president of strategic planning and business development William S. Price III to complete the buyout of Continental Airlines . In 1994, TPG, Blum Capital and ACON Investments created Newbridge Capital,
2650-499: Was its takeover of the retailer J. Crew , acquiring an 88% stake for approximately $ 500 million; the investment struggled due to the high purchase price paid relative to the company's earnings. The company was able to complete a turnaround , beginning in 2002, and to complete an IPO in 2006. In 1998, TPG led a minority investment in Oxford Health Plans . TPG and its co-investors invested $ 350 million in
2703-766: Was selling its remaining 70% stake in DirecTV to TPG. On September 30, 2024, TPG Angelo Gordon and a certain amount of its co-investors, as well as DirecTV, provided $ 2.5 billion of financing to fully refinance DISH DBS’ November 2024 debt maturity. Sovereign wealth fund A sovereign wealth fund ( SWF ), or sovereign investment fund is a state-owned investment fund that invests in real and financial assets such as stocks , bonds , real estate, precious metals , or in alternative investments such as private equity funds or hedge funds . Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign exchange reserves held by
SECTION 50
#17327986586852756-651: Was taken over by the U.S. government, costing TPG a $ 1.35 billion investment. It has been called by some analysts "the worst deal in private equity history." On October 31, 2008, TPG completed the purchase of a 35% interest in P.T. Bumi Resources , from its previous owner Bakrie & Brothers, Indonesia, for $ 1.3 billion. In June 2009, Republic Airways Holdings Inc., a provider of regional flights for larger carriers, agreed to buy Midwest Airlines from TPG Capital. On March 12, 2010, Gretchen Morgenson , in The New York Times , discussed TPG's role as
2809-543: Was thus the first to establish such a scheme, to fund public education. The Permanent School Fund (PSF) was created in 1854 to benefit primary and secondary schools, with the Permanent University Fund (PUF) following in 1876 to benefit universities. The PUF was endowed with public lands, the ownership of which the state retained by terms of the 1845 annexation treaty between the Republic of Texas and
#684315