TPG is looking to raise $4bn in capital commitments for its latest growth equity fund to tap into a “fresh crop of opportunities”, according to a report by Buyouts Insider, quoting the firm’s Chief Financial Officer Jack Weingart.
Speaking in a recent earnings call, Weingart said: “The opportunity set in growth equity investing has gotten much more interesting now and we think there’s plenty of interesting deal activity to warrant that kind of fund size. We have confidence that we’ll hit that target.”
TPG Growth VI, which was launched toward the end of the second quarter, has not yet held a first close, with fundraising expected to continue throughout this year and 2024, and even into early 2025.
TPG closed its previous growth equity fund two years ago with capital commitments of $3.6bn, surpassing its original $3.5bn target.