TPG closes fourth real estate fund at €6.9b

TPG Real Estate (TPGRE), the dedicated real estate platform of global alternative asset firm TPG, has closed its latest opportunistic real estate equity fund, TPG Real Estate Partners IV (TREP IV). 

The fund was oversubscribed, hitting its hard cap and securing more than $6.8 bn (€6.9 bn) of total commitments.

'We are grateful for the ongoing support of our investors, who have shown their trust in our strategy of building a differentiated real estate investing business,' said Kelvin Davis, partner and co-head of TPG Real Estate.

TREP IV was formed as a continuation of TPGRE’s opportunistic real estate fund series, focusing on thematic investing primarily in property-rich platforms and strategic portfolio aggregations in the US and Europe.

Since inception, TPGRE has invested and committed approximately $9.1 bn of equity in line with this strategy.

'We are focused on investing behind themes backed by either long term secular trends or dislocations caused by capital market volatility. With the close of this fund, we have more dry powder than at any other time in TPGRE’s history,' added Avi Banyasz, partner and co-head of TPG Real Estate.

Erin Nemser, partner and head of TPG Real Estate Capital Formation said: 'This fundraise incorporates the support of both new and old partners for TPGRE, and we look forward to continuing to invest this capital to drive value for our investors.'


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