TPG Real Estate, TPG’s dedicated real estate investment platform, announced Oct. 7 the completion of fundraising for TPG Real Estate Partners II.
TREP II secured over $2 billion of equity commitments, exceeding the fund’s objective. Investors in TREP II include leading public and private pension funds, sovereign wealth funds, insurance companies, and other institutional investors.
The Fort Worth-based firm, began raising the new pool about 20 months ago. TPG Real Estate, which has approximately $75 billion of assets under management, has invested in a variety of assets. TREP has invested over $3 billion of equity in both residential properties and approximately 1,100 commercial real estate assets in diversified North American and European markets. Select investments include Catellus Development Corporation, Enlivant, Evergreen Industrial Properties, LifeStorage, MWest Properties, P3 Logistic Parks, Taylor Morrison Home Corporation, and the Woolgate Exchange building in the City of London.
“We are proud to have reached this milestone and are appreciative of the continued support from our global investor partners,” said Kelvin Davis, founder and co-head of TPGRE in a news release. “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. Building on our growth over the past six years, we are looking forward to investing the fund successfully.”
Added Avi Banyasz, partner at TPG and co-head of TPGRE: “TREP II will continue to implement our differentiated investment strategy focused on real estate platforms and property-rich companies that leverages our broader capabilities to optimize property performance and enhance platform capabilities.”