Los Angeles County Employees Retirement Association (LACERA) has approved a re-up commitment in the amount of $110 million to TPG Real Estate Partners IV, according to a board meeting document from Feb. 9.
Launched in September 2021 by TPG Real Estate Partners (TREP), TPG Real Estate Fund IV will focus on opportunistic platform 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.
Fund IV had an unknown fundraising target; however, TPG closed the fund’s predecessor, TPG Real Estate Partners III, in March 2019 with more than $3.7 billion of capital commitments.
As of June 30, 2021, LACERA had a 16 perc
