TPG Raises Nearly US$8 Billion for Asian Private Equity and Real Estate

TPG Raises Nearly US$8 Billion for Asian Private Equity and Real Estate

May.08.2024

Dedicated Asia Private Equity, Asia Real Estate and Japan Real Estate Funds Boost TPG's Asia Business

San Francisco and Fort Worth, Texas - May 8, 2024 - TPG (NASDAQ: 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.

• 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.
  

• 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.

"These successful campaigns reflect the strength of our performance and the quality of our platform in Asia," said Jon Winkelried, CEO of TPG. "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"he said.

Ganen Sarvananthan, Head of Asia and the Middle East and Co-Managing Partner of TPG Capital Asia, added: "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, said: "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."

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $222 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.

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Elaine Li
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