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TPG raises $2bn for growth equity platform

3 Aug 2012

Global private equity firm TPG Capital has closed its second growth equity fund on $2bn.

TPG Growth II will continue the firm’s growth strategy of targetting smaller buyouts and growth equity investments in industries including consumer, retail, technology, internet, healthcare, energy, cleantech and renewables, transportation, industrials, and business services. Investments include leveraged buyouts, growth equity and PIPEs.

The firm’s previous fund in its growth platform TPG Star, closed on $1.3bn fund, in 2007.

Investors in the new fund include the California Teachers’ Retirement System, according to Bloomberg.

TPG Star had returned 1.4 times with annual returns of some 14 per cent as of 31 March, it said, citing the Oregon Public Employees Retirement Fund, which made a $100m allocation to the fund.

TPG was founded in 1992 and has $51.5bn of assets under management and offices in San Francisco, Fort Worth, Houston, New York, Sao Paulo, Hong Kong, London, Paris, Luxembourg, Melbourne, Moscow, Mumbai, Shanghai, Chongqing, Beijing, Singapore and Tokyo.

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