TPG Takes $600M Hit on Anastasia Beverly Hills Investment

TPG has exited most of its stake in Anastasia Beverly Hills, wiping out a $600 million investment, after the company's founders took steps to address its debt restructuring. TPG now holds a 6% stake and is discussing options with Anastasia and lenders, including injecting $225 million and providing more debt. The cosmetics firm, known for its eyebrow shaper products, had been operating under forbearance and missed a loan payment, leading to downgrades from Moody's and S&P.