SAN FRANCISCO—TPG Capital's dedicated real estate platform, TPG Real Estate, has exceeded its fundraising goal for TPG Real Estate Partners II. The newly closed fund has secured more than $2 billion of equity commitments from institutional investors, TPG said Wednesday.
“Our success attracting support from new and existing investors is reflective of our talented team of professionals, our proven track record and the distinctive nature of our investment strategy,” says Kelvin Davis, founder and co-head of TGPRE. “Building on our growth over the past six years, we are looking forward to investing the fund successfully.”
TPGRE's investment platform, TPG Real Estate Partners, has invested about $3 billion in equity across North America and Europe since 2009, acquiring both individual properties and companies including Catellus Development Corp. and LifeStorage Properties. Bloomberg Business reported that the parent company, Fort Worth-based TPG Capital, bundled the 10 real estate investments it had made during that time into TPG Real Estate I. TREP II is actually the company's first-ever multi-investor property fund.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
