TPG Capital is one of the world's largest private equity firms, with stakes in financial services, technology, media, health care, retail, and various other industries. The firm participates in leveraged buyouts, recapitalizations, turn around situations, and other transactions, typically holding on to its investments for five to seven years. It also takes an active role in its holdings when necessary. TPG has nearly $65 billion in assets under management, with stakes in such notable enterprises as Avaya, Freescale Semiconductor, J. Crew, Neiman Marcus, Sabre Holdings, SunGard Data Systems, and Univision. Affiliate TPG Growth specializes in middle-market and growth equity investments. TPG Capital was founded in 1992.