TPG Real Estate Partners Closes $4B Fund
- Mar 12, 2019
TPG Real Estate Partners, the real estate equity investment platform of global alternative asset firm TPG, announced the closing of its latest opportunity fund, TPG Real Estate Partners III. The fund secured more than $3.7 billion in capital commitments and was oversubscribed.
TREP invests in commercial and residential assets across the U.S. and Europe through a strategy focusing on acquiring and building property-rich platforms and companies. Last month, TPG announced the final close of its latest Asia-focused private equity fund, TPG Capital Asia VII. The fund raised more than $4.6 billion in commitments, exceeding its target.
“With the completion of the TPG Real Estate Partners III fundraise, we are well-capitalized to execute our distinctive investment strategy and continue building a differentiated investment portfolio,” said Kelvin Davis, founder & co-head of TPG Real Estate, in prepared remarks.
In 2017, TPG Real Estate sold a 150-property U.S. industrial portfolio totaling 16 million square feet to Ivanhoé Cambridge for $1 billion.