PE firm TPG mops up $4.6 bn for Asia fund

MUMBAI: Global private equity firm TPG has raised over $4.6 billion towards its seventh Asia focused private equity fund - TPG Capital Asia VII - the alternative asset firm said today.

Announcing its final close, the fund said it has exceeded its initial target keeping investor demand in mind.

“Thanks to the continued support of our global investor partners, we surpassed the target figure for TPG Asia VII,” said Ganen Sarvananthan, Co Managing Partner for TPG Capital Asia. “With Asia VII, we will continue to invest in opportunities that reflect our differentiated investment strategy, deep sector expertise, and focus on operational improvement.”

TPG Asia VII has already committed more than 40 per cent of its capital across 12 companies, including, Du Xiaoman, the consumer lending, wealth management and payments platform spun out from Baidu; Pathology Asia Holdings, Healthscope’s Asian Pathology business that operates 39 labs across Singapore, Malaysia and Vietnam; UPL, a global leader in agricultural solutions, and Greencross, an ASX-listed integrated pet care platform in Australia, among others.

Having completed 25 years of investing in Asia since 1994, the 50-member Asia team across offices in Beijing, Hong Kong, Mumbai, Seoul, Singapore, and Melbourne have so far invested around $11 billion in 88 investments across 13 countries.

The team pursues investments in a broad range of industries, with a significant focus on financial services, healthcare, consumer, and TMT/new economy, the release said.

Founded in 1992, TPG has more than $103 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore.

The global alternative asset firm invests across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity.