TPG holds interim $11.2bn close for TPG Partners VIII

Registered in June 2018, TPG Partners VIII was launched with an $11bn target, which it surpassed with its latest $11.2bn interim close in June 2019.

The fund is now larger than its predecessor, which closed on $10.5bn in 2016.

Merill Lynch is acting as a placement agent.

TPG is concurrently raising $2.5bn for its healthcare sector-focused fund, TPG Healthcare Partners, according to another document from the SEC.

Investors
The fund has been backed by a group of US pension funds, according to Unquote Data. California Public Employees Retirement System allocated $600m to the vehicle, California State Teachers Retirement System $200m, Employees Retirement System of the State of Hawaii $50m, Kansas Public Employees Retirement System $75m, Minnesota State Board of Investment $150m, Oregon Investment Council $400m, State of Michigan Retirement Systems  $125m, State of Wisconsin Investment Board $100m, Teacher Retirement System of Texas $320m, Washington State Investment Board $750m and the Teachers' Retirement System of Louisiana allocated an undisclosed sum.

Canadian pension fund Canada Pension Plan Investment Board backed the vehicle as well, allocating $410m.

Investments
The fund will implement the same strategy as its predecessor, taking equity stakes in medium-sized and large companies in the sectors of healthcare, technology, telecommunications, consumer, general industrials and energy in North America and Europe.

People
TPG Partners – Stephen Bamford (principal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Buyout
• US
• TPG