$222 Billion Private Equity Group TPG Raised $7.8 Billion for 3 New Funds, Asia Private Equity Fund Raised $5.3 Billion, 2 Real Estate Funds Investing in Asia & Japan Raised $2.5 Billion
9th May 2024 | Hong Kong
Leading private equity group TPG with $222 billion AUM (Assets under Management) has raised $7.8 billion for 3 new funds, with the Asia private equity fund raising $5.3 billion (TPG Asia VIII), and 2 real estate funds investing in Asia & Japan raising $2.5 billion (TPG AG Asia Realty Fund V, Japan Realty Value fund). Announcement (8/5/24): “TPG a leading global alternative asset management firm, today announced that it has closed its eighth Asia focused private equity fund, TPG Asia VIII, as well as its first TPG Angelo Gordon Asian real estate funds, TPG AG Asia Realty Fund V and the TPG AG Japan Realty Value Fund, since the firm completed its acquisition of TPG Angelo Gordon in November 2023. The fund closes total nearly US$8 billion, bringing TPG’s total Asia AUM to over $35 billion diversified across dedicated Asia-focused private equity, real estate, and secondaries, as well as the firm’s investments in the region through its global growth and impact funds. 1) TPG Asia VIII (“Asia VIII”) secured approximately $5.3 billion in aggregate capital commitments, closing around 14% higher than its predecessor fund and making it the firm’s largest Asia fund in its 30 years of investing in the region. The fund will continue to pursue a geographically distributed strategy of thematic growth investing. 2) Two TPG AG Real Estate funds – TPG AG Asia Realty Fund V (“Asia Realty V”) and our first Japan Realty Value fund – closed with more than $2.5 billion of capital in aggregate, with both funds exceeding their respective fundraising targets. Asia Realty V closed more than 50% higher than its predecessor. It seeks to capitalize on attractive opportunistic real estate investments with a focus on sourcing off-market transactions in the Japan, Korea, China, Hong Kong, and Singapore markets. The Japan Realty Value Fund will target value-add real estate opportunities in Japan, focused primarily on the acquisition of equity interests in real estate across various product types, including industrial, office, residential, and retail.” In February 2024, TPG had proposed to buy alternative investment technology & administrator Alter Domus for $4.9 billion (€4.5 billion) from private equity group Permira.
“ $222 Billion Private Equity Group TPG Raised $7.8 Billion for 3 New Funds, Asia Private Equity Fund Raised $5.3 Billion, 2 Real Estate Funds Investing in Asia & Japan Raised $2.5 Billion “
Jon Winkelried, CEO of TPG: “These successful campaigns reflect the strength of our performance and the quality of our platform in Asia. Since establishing our presence in the region nearly 30 years ago, TPG has built a multi-strategy, scaled franchise with over 250 employees across nine cities managing over $35 billion of AUM. Looking ahead, we expect markets across Asia to continue to experience strong economic growth. Our investment strategy in the region—characterized by thematic, sector-driven investing by local teams in key markets—positions us to continue to deliver excellent performance and drive further innovation and growth.”
Ganen Sarvananthan, Head of Asia and the Middle East and Co-Managing Partner of TPG Capital Asia: “The successful close of TPG Asia VIII is a testament to our geographically diversified and sector-led private equity strategy, our stable and tenured leadership team, and our partnership-focused investment approach in Asia. We are grateful to our long-standing partners who continue to show confidence in our strategy and are very pleased to welcome our new investors.”
Wilson Leung, Head of TPG AG Asia Real Estate: “We are excited to expand our value-add real estate investing activities across Asia with the support of new and existing LPs via TPG AG Asia Realty Fund V, our largest Asia real estate fund to date. We also welcome the opportunity to deepen our partnership with Japanese institutional investors through our TPG AG Japan Value Fund. We continue to see a wealth of compelling investment opportunities across the region, and we are confident that our deeply experienced team and strong, established operating partner network position us well to capitalize on them and drive value for our LPs.”
$222 Billion Private Equity Group TPG Proposed to Buy Alternative Investment Technology & Administrator Alter Domus for $4.9 Billion from Private Equity Group Permira, Alter Domus Manages 30,000 Client Structures with $2.2 Trillion Assets under Administration
24th February 2024 – Leading private equity group TPG with $222 billion AUM (Assets under Management) has proposed to buy alternative investment technology & administrator Alter Domus for $4.9 billion (€4.5 billion) from private equity group Permira. Alter Domus manages 30,000 client structures with $2.2 trillion Assets under Administration (AuA).
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