Private equity firm TPG Growth has bought a majority stake in TRACE, an afro-urban music and entertainment business. TPG will invest alongside Evolution Media and Satya Capital. MTG, a Swedish digital entertainment company in TRACE sold its stake in TRACE which TPG has bought. The remaining stake will be owned by TRACE’s co-founder and management team. TPG is private equity investor in media and entertainment companies in several parts of the world. The acquisition amount is undisclosed.