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Laxman Pai, Opalesque Asia: The real estate investment arm of private equity firm TPG announced that it has closed its latest opportunity fund at its $6.8 billion hard cap.
The global alternative investment manager said in a press release that it had held a final close for TPG Real Estate Partners IV (TREP IV), after securing more than $6.8 billion in commitments from investors.
Kelvin Davis, partner and co-head of TPG Real Estate (TPGRE), said: "We are grateful for the ongoing support of our investors, who have shown their trust in our strategy of building a differentiated real estate investing business."
Investors in TPG Real Estate Partners IV include Michigan Retirement Systems, East Lansing; Texas Municipal Retirement System, Austin; and Los Angeles City Employees' Retirement System.
The fund will continue the strategy of the series to focus on "thematic investing primarily in property-rich platforms and strategic portfolio aggregations". The fund will invest in properties in the U.S. and Europe.
The fourth fund from TPG's real estate business is 84% larger than its predecessor, the $3.7 billion TPG Real Estate Partners III, which closed in 2019.
Since its inception, TPGRE has invested and committed approximately $9.1 billion of equity in line with this strategy.
"We are focused on investing behind themes backed by either long-term secular trends or dislocations caused by capital market volatility. With the close of this fund, we have ...................... To view our full article Click here
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