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TPG exited most of its stake in Anastasia Beverly Hills as part of a debt restructuring, largely wiping out the private equity firm’s $600 million investment in the cosmetics company, according to people familiar with the matter.
TPG purchased about 38 percent of the beauty company from its founders in 2018, in a deal that was financed with a combination of debt taken on by Anastasia and preferred shares bought by TPG.
TPG now has a roughly 6 percent stake, one of the people said, all of…
