TPG Actual Property has closed its newest opportunistic actual property fairness fund, TPG Actual Property Companions IV (TREP IV), the corporate introduced on Monday, Oct. twenty fourth. The fund reportedly was oversubscribed, exceeding its laborious cap and securing greater than $6.8 billion in whole commitments.
TREP IV continues TPGRE’s opportunistic actual property fund sequence, with a method specializing in thematic investing primarily in property-rich platforms and strategic portfolio aggregations within the U.S. and Europe. Since inception, TPGRE has invested and dedicated about $9.1 billion of fairness in keeping with this technique.
In a ready assertion, Avi Banyasz, companion & co-head of TPG Actual Property, stated the corporate is targeted on investing behind themes backed by both long run secular tendencies or dislocations brought on by capital market volatility. “With the shut of this fund, we now have extra dry powder than at another time in TPGRE’s historical past,” he added.
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Along with TREP IV, TPGRE manages TPG Thematic Benefit Core-Plus (TAC+), which pursues thematic actual property investments within the U.S. with stabilized tenancy and enduring money stream. TAC+ had its remaining closing earlier in 2022 at its laborious cap of roughly $1.8 billion.
TPG Actual Property is the devoted actual property funding platform of TPG, a worldwide various asset administration agency with $127 billion of property below administration. TPGRE contains swimming pools of actual property capital devoted to opportunistic and core plus fairness, and residential and industrial debt.
Inventive investments
This newest fund’s quick predecessor, TPG Actual Property Companions III, additionally was oversubscribed, at a complete of greater than $3.7 billion in capital commitments.
Investing on that scale requires a broad outlook, and up to date TPG offers present that.
An instance of that got here in June of final yr, when a three way partnership of Quantum Loophole Inc. and TPG Actual Property Companions introduced plans to develop the primary clear, mass-scale gigawatt knowledge heart neighborhood, on a roughly 2,100-acre, former Alcoa aluminum smelter website in Frederick County, Md.
