TPG Global LLC, a subsidiary of San Francisco-based private equity firm TPG Capital, has offered to buy InvoCare Ltd., an Australian-based funeral home operator, according to Bloomberg News.

InvoCare provides funeral services in Australia, New Zealand and Singapore, and operates private memorial parks and crematoria in Australia and New Zealand. TPG offered to purchase the company at A$12.65 ($8.36) per share, valuing the Sydney-based company at A$1.82 billion ($1.22 billion). TPG has already acquired a stake of about 17.8 percent via a combination of physical ownership and derivatives.