TPG raises $479m for inaugural CLO fund

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Texas private equity firm TPG has raised $479m for its first collateralised loan obligation (CLO) vehicle, TICP CLO 1, Bloomberg has said.

Earlier this month TPG was said nearing a swift close for its latest special situations fund after pulling in almost $3.2bn. Prior to that TPG -backed credit investor Castlelake closed its first fund since becoming an independent business on its $1.4bn hard cap.

Private equity firms have raised a spate of CLO vehicles in the past year, with recent funds including a $325m vehicle from Sankaty Advisors and a $515.9m fund from UK-based 3i.

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