TPG seen selling stake to investors

NEW YORK (CNNMoney.com) -- Private equity titan TPG may sell part of itself to some of its large investors, according to a report Tuesday.

The Wall Street Journal said the buyout firm is in talks to sell up to a 20 percent stake to some of its pension fund investors.

TPG (formerly Texas Pacific Group) is one of the most powerful players in private equity. Its deals include the $45 billion cash-and-debt takeover of TXU Corp (Charts, Fortune 500)., the biggest buyout on record.

Led by David Bonderman and Jim Coulter, the firm has more than $30 billion of capital under management. The sale is expected to raise billions of dollars for the firm's founders, the newspaper said.

TPG is the latest private equity firm to unveil plans to sell parts of itself. Blackstone Group filed for an initial public offering in March. Carlyle Group and Apollo are believed to be weighing similar plans to go public.

In addition to selling a stake to its pension fund investors, TPG may package some of the firm's existing fund investments in a new company and take it public, according to the Journal.