TPG Closes Asia VII with Over $4.6 Billion of Commitments
Beijing, Hong Kong, Mumbai, Melbourne, Seoul, Singapore, and San Francisco - February 11, 2019 - TPG, a global alternative asset firm, today announced the final close of its latest Asian focused private equity fund, TPG Capital Asia VII. The fund raised over $4.6 billion in commitments, exceeding the fund’s target.
“Thanks to the continued support of our global investor partners, we surpassed the target figure for TPG Asia VII. We are proud to have reached this milestone,” 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. We look forward to continuing to deliver value for our investors while helping to build great new companies across Asia.”
"We are incredibly grateful for the trust placed in us by both our long-standing partners, many of whom have invested with us over multiple funds, and welcome a new group of limited partners to Asia VII,” said Stephen Bamford, Partner and Co-Head of Fundraising at TPG said.
TPG Asia VII has so far committed more than 40 percent of the 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 Limited, an ASX-listed integrated pet care platform in Australia.
2019 marks TPG’s 25th year investing in Asia, since establishing its first regionally-dedicated fund in 1994. Comprised of approximately 50 investment professionals, the TPG Capital Asia team is based in TPG’s offices in Beijing, Hong Kong, Mumbai, Seoul, Singapore, and Melbourne. The platform has invested $11 billion in 88 investments across 13 countries through varied local and regional economic cycles. The team pursues investments in a broad range of industries, with a significant focus on financial services, healthcare, consumer, and TMT/new economy.