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TPG closes TPG Partners VII at USD10.5bn

Global alternative asset firm TPG today announced the final close of its latest North American- and European-focused private equity fund, TPG Partners VII. The fund raised USD10.5 billion in commitments, including USD400 million from TPG and its personnel. 

TPG Partners VII has so far invested USD2.1 billion across six companies, including Cirque du Soleil, real estate firm Cushman & Wakefield, educational software company Ellucian, integrated midstream company EnLink, Life Time Fitness, and U.K. retail chain Poundworld.
 
“Thanks to the continued support of our limited partners, we surpassed the target figure for TPG Partners VII. The closing of the fund marks the culmination of a successful era in fundraising across our Capital, Growth, Real Estate, Asia, and Credit platforms, raising over USD45 billion and generating strong momentum in the wake of the financial crisis,” says Jim Coulter, Co-Founder and Co-CEO of TPG. “TPG VII is already building on that momentum with early investments in exciting companies.”
 
“As the stewards of capital for our limited partners, we are committed to earning their continued support by maintaining a focus on value creation,” says Jon Winkelried, Co-CEO of TPG. “We will continue to seek opportunities that align with TPG’s culture and values while building an innovative, dynamic future for the firm and its partners. We thank our investors in TPG VII—old and new—for their partnership and look forward to continuing to serve them.”
 
“TPG Partners VII will build on our momentum, and we will continue to identify and execute on opportunities that reflect our differentiated investment strategy, deep sector specialisation, and focus on operational improvement,” says Todd Sisitsky, Managing Partner of TPG Capital. “Our operations team and global network of talented deal professionals have enabled us to carve out sectors where we can help companies grow and excel. We look forward to furthering our leadership in these sectors and creating even more value for our investors.”
 
“We are fortunate to have a diverse set of investors and greatly appreciate their support in making this a successful fundraising,” says Jonathan Coslet, Chief Investment Officer and Partner at TPG. “We are excited about the investment opportunities ahead and believe TPG Capital’s foundation positions us well to continue to find and build successful businesses around the world.”
 
Formed in 1992 as TPG’s first platform, TPG Capital has deployed USD49 billion of capital and invested in more than 175 companies around the world. Since 2009, TPG Capital has deployed more than USD22 billion of capital, investing in 72 companies with an average check size of approximately USD300 million. Since 2014, the platform has been focused on realising on investments, returning USD22 billion of capital to its limited partners. TPG Partners VII included new investors as well as returning investors from across the TPG portfolio.

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