TPG closed a new North American and European-focused private equity fund, TPG Partners VII, with $10.5 billion in capital. The new fund includes $400 million in investments from TPG employees.
“TPG Partners VII will build on our momentum, and we will continue to identify and execute on opportunities that reflect our differentiated investment strategy, deep sector specialization, and focus on operational improvement,” says TPG Capital managing partner Todd Sisitsky.
TPG Partners VII has already invested $2.1 billion in six companies including: Cirque du Soleil, Cushman & Wakefield, Ellucian, EnLink, Life Time Fitness and Poundworld. The firm, based in based in Fort Worth, Texas, was founded in 1992 and has since invested $49 billion in capital in 175 companies. Since 2014, TPG has returned about $22 billion in capital to limited partners.
TPG’s fund close comes during an active fundraising period for PE firms. CVC Capital Partners closed its CVC Growth Partners middle-market fund at $1 billion in investor commitments; Thoma Bravo LLC raised $1.074 billion to target lower middle market software company deals; and Waud Capital Partners closed its fourth fund, Waud Capital Partners IV, valued at $1.056 billion.