TPG Capital close to Cushman-DTZ deal

New York

DAVID Bonderman's TPG Capital is close to a deal to buy commercial property brokerage Cushman & Wakefield Inc for about US$2 billion and combine it with DTZ Group, creating one of the world's biggest real estate services firms.

TPG is in advanced discussions with Cushman and its owners, Exor SpA, the Agnelli family's Italian holding company, according to people familiar with the matter.