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TPG focuses on turnarounds, management-led buyouts and recapitalizations. The firm's industry focuses include media and telecommunications, industrials, technology and health care. The firm is currently investing its fourth fund, TPG Partners IV, L.P., which closed in March 2003 with $5.3 billion in capital commitments, and the firm is raising its fifth fund, seeking as much as $14 billion, according to reports. Recent notable transactions include the Leveraged Buyout of Burger King in July 2002 with Bain Capital and Goldman Sachs Capital Partners, the acquisition of MGM in 2004 with Sony Corp. and other Private Equity firms, and the acquisition of high-end retailer Neiman Marcus . TPG proposed to buy Portland General Electric from Enron November 17 , 2003 . However, concerns about debt, local mistrust, and published documents that indicated TPG would likely maximize short-term profits to the detriment of the utility's customers led to Oregon's Public Utilities Commission regulators to deny permission for the purchase March 10 , 2005 . EXTERNAL LINKS
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