Texas Pacific Group planning to rescue Taylor Wimpey

Private equity firm Texas Pacific Group (TPG) is planning an attempt to resuscitate ailing housebuilder Taylor Wimpey.

Sources close to the buyout firm told the Daily Mail it would “love” to bail out the housebuilder and could move quickly to rescue it.

The source told the newspaper: “(TPG) would love to invest in Taylor Wimpey, and is very interested in the housebuilding sector. The whole sector is of interest to TPG.”

The news came after Taylor Wimpey, struggling with £1.7bn of debt, failed to raise £500m in emergency funds from investors.

It sparked a late spike in shares in the last minutes of Wednesday’s trading, with shares closing down 42% at 35p.

Meanwhile, the Financial Times claims a hedge fund is interested in saving the housebuilder and could offer to bridge a £100m financing gap.