TPG Real Estate Partners has raised $3.7bn (£3.2bn) for its latest fund amidst a series of senior management changes.
Anand Tejani, 44, a partner in the London office, has “retired from the firm” according to a company statement. He joined TPG in 2006, helping to establish its European business.
Coming in at TPG in London are Louis-Simon Ferland and James Piper, who will join as partners later this year. Ferland most recently served as managing director at Blackstone and Piper as a partner at Ares Management.
Together with current TREP partner Michael Abel, Ferland and Piper will help lead the group’s European investing efforts.
TPG Real Estate Partners III will invests in properties across the US and Europe and will continue the private equity firm’s strategy of building operational, property-backed businesses.
Avi Banyasz, partner and co-head of TPG Real Estate, said: “From self-storage to senior living, we focus on building property-rich platforms in high-growth asset classes and markets, as well as in select areas of dislocation. We will continue to execute our strategy of investing in real estate-intensive businesses, particularly in sectors where we believe we have proprietary insight and operational competitive advantages.”
TREP has invested more than $5bn of equity across 30 transactions to date. Current and past investments include Berlin-headquartered A&O Hotels and Hostels, California-based property developer Catellus, Chicago-based care home provider Enlivant, US light industrial real estate specialist Evergreen Industrial Properties and central and eastern European developer TriGranit.
Kelvin Davis, founder and co-head of TPG Real Estate, said: “Louis-Simon and James both have significant experience sourcing, executing, and managing real estate investments across Europe. We are thrilled to welcome them aboard as we continue to bolster our presence across the region.
“Anand has played an important role in building our platform in Europe, and we thank him for his contributions to the business.”
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