Introducing TPG

Like Kentucky Fried Chicken before it, Texas Pacific Group has officially dropped its regional moniker in favor of an acronym. The firm is now known simply as TPG, which is what lots of people already call it,

The move does not have any operational impact, as TPG will maintain its headquarters in Fort Worth, Texas.The name change was made to reflect how most TPG deals are now done outside of the Lone Star State, including international deals in Asia, Australia and Europe.

But the name change is not without a bit of irony. After all, it comes just days after TPG announced its participation in the proposed $45 billion buyout for TXU, which would be the largest LBO in history. TXU is the largest energy provider in Texas.