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Houston Police Officers slates $38m for TPG Real Estate Partners IV
Investors - MARCH 25, 2022

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Houston Police Officers slates $38m for TPG Real Estate Partners IV

by Kali Persall

The Houston Police Officers Pension System (HPOPS) has approved a $38 million commitment to TPG Real Estate Partners IV, an opportunistic fund managed by TPG Real Estate Partners (TREP).

TPG Real Estate Partners IV opened in September 2021 with a focus on opportunistic real estate investments in the United States and Europe. The fund will implement a buy-and-build strategy, acquiring assets in inefficient and fragmented markets while improving operations at the company level.

The fund’s predecessor, TPG Real Estate Partners III, closed in March 2019 with more than $3.7 billion of capital commitments. A fundraising target for Fund IV was not known at the time of publication.

As of June 30, 2021, HPOPS had a 10-percent target allocation to real estate. The market value of real estate assets comprised 7.9 percent of the system’s total assets.

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