TPG Real Estate has closed its latest opportunistic real estate equity fund, TPG Real Estate Partners IV, with more than $6.8bn (£6bn) in total commitments.
The fund will primarily invest in property‐rich platforms and strategic portfolios in the US and Europe as a continuation of its TPGRE opportunistic fund series. Together the previous funds have invested around $9.1bn in opportunistic real estate.
Avi Banyasz, partner and co-head at TPG Real Estate, said: “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.”
In addition to TPG Real Estate Partners, TPGRE manages TPG Thematic Advantage Core-Plus, which pursues thematic real estate investments in the US with stabilised tenancy and enduring cash flow. It had its final closing earlier in 2022 at its hard cap of approximately $1.8bn.
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