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Laxman Pai, Opalesque Asia: Global alternative asset management firm TPG Global has announced the final close of its second tech-focused fund at $3.4 billion.
The US-based private equity major said in a press release that the strategy dedicated to providing flexible capital solutions to the technology industry - TPG Tech Adjacencies II (TTAD II) - secured equity commitments, surpassing the fund's target and more than doubling the capital raised for the inaugural TPG Tech Adjacencies (TTAD) fund in 2018.
TTAD grew organically out of TPG's technology practice after recognizing the significant opportunity for value creation as more technology companies opted to stay private through more advanced stages of growth, said the release.
"The fund has a flexible mandate and is designed to invest in tech companies across all stages of growth through structured and opportunistic minority investments," it added.
TTAD is led by Co-Managing Partners Nehal Raj, who co-leads the firm's investment activities in Software and Enterprise Technology across its private equity platforms, and David Trujillo, who leads TPG's Internet, Digital Media, and Communications investing efforts across the firm.
"The modern era of technology investing requires flexible capital with a full suite, full-cycle approach to investing," said Raj. "With TTAD, we're focused on bringing all the tools and capital solutions that are available to companies in the public markets to the private te...................... To view our full article Click here
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