Private equity firm TPG Capital is said to be nearing a deal to purchase a minority stake in Anastasia Beverly Hills, according to a report published by CNBC news.

CNBC sources have revealed that the make-up brand boasts EBITDA of approximately US$200 million and that talks suggest a value of US$3 billion.

The success of Anastasia Beverly Hills is attributed to its strong social media presence with founder Anastasia Soare credited with spotting the potential of Instagram to propel sales early on. Products are also sold via the brand’s website, standalone stores and retailers such as Ulta Beauty.

TPG also owns a majority stake in e.l.f. Cosmetics, itself rumoured to be poised to make strategic acquisitions this year.