TPG Angelo Gordon has closed its TPG AG Europe Realty Fund IV, nearly $2.5 billion, including $2.27 billion in capital commitments and an additional $214 million in co-invest capital.
This is TPG AG Europe’s RE largest fund to date, 50 percent ahead of its predecessor vehicle, not including the co-invest capital.
Fund IV will target all property types in the United Kingdom and major markets in Western Europe and the Nordics. It seeks to identify off-market investment opportunities with a focus on sub-performing assets along the entire value-add spectrum.
Launched in 2009, TPG AG Europe Real Estate has acquired more than 258 properties for a gross purchase price of $7.2 billion. Including asset-level capital expenditures and investments, the business has invested more than $10 billion.
Fund IV’s LP base is comprised of public and corporate pensions, sovereign wealth funds, and endowments. Nearly 60 percent of Fund III investors committed capital to Fun
