Leading global alternative asset management firm TPG has closed its eighth Asia-focused private equity fund, TPG Asia VIII, as well as its first TPG Angelo Gordon Asian real estate funds, TPG AG Asia Realty Fund V and the TPG AG Japan Realty Value Fund since the firm completed the acquisition of TPG Angelo Gordon last year.
The fund closes nearly $8 billion, bringing TPG’s total Asia assets under management (AUM) to over $35 billion. It is diversified across dedicated Asia-focused private equity, real estate, secondary, and investments in the region through its global growth and impact funds.
- TPG Asia VIII secured about $5.3 billion in aggregate capital commitments, closing around 14% higher than its predecessor fund and making it the firm’s largest Asia fund in its 30 years of investing in the region. And the fund will continue to pursue a geographically distributed strategy of thematic growth investing.
- Two TPG AG Real Estate funds: TPG AG Asia Realty Fund V and the first Japan Realty Value fund closed with over $2.5 billion of capital in aggregate, with both funds exceeding their respective fundraising targets.
- Asia Realty V closed over 50% higher than its predecessor. And it seeks to capitalize on attractive opportunistic real estate investments with a focus on sourcing off-market transactions in the Japan, Korea, China, Hong Kong, and Singapore markets. The Japan Realty Value Fund will target value-add real estate opportunities in Japan, focused primarily on the acquisition of equity interests in real estate across various product types, including industrial, office, residential, and retail.
KEY QUOTES:
“These successful campaigns reflect the strength of our performance and the quality of our platform in Asia. Since establishing our presence in the region nearly 30 years ago, TPG has built a multi-strategy, scaled franchise with over 250 employees across nine cities managing over $35 billion of AUM.”
“Looking ahead, we expect markets across Asia to continue to experience strong economic growth. Our investment strategy in the region—characterized by thematic, sector-driven investing by local teams in key markets—positions us to continue to deliver excellent performance and drive further innovation and growth.”
– Jon Winkelried, CEO of TPG
“The successful close of TPG Asia VIII is a testament to our geographically diversified and sector-led private equity strategy, our stable and tenured leadership team, and our partnership-focused investment approach in Asia. We are grateful to our long-standing partners who continue to show confidence in our strategy and are very pleased to welcome our new investors.”
- Ganen Sarvananthan, Head of Asia and the Middle East and Co-Managing Partner of TPG Capital Asia
“We are excited to expand our value-add real estate investing activities across Asia with the support of new and existing LPs via TPG AG Asia Realty Fund V, our largest Asia real estate fund to date. We also welcome the opportunity to deepen our partnership with Japanese institutional investors through our TPG AG Japan Value Fund. We continue to see a wealth of compelling investment opportunities across the region, and we are confident that our deeply experienced team and strong, established operating partner network position us well to capitalize on them and drive value for our LPs.”
- Wilson Leung, Head of TPG AG Asia Real Estate
