TPG has launched its inaugural TPG NEXT fund, which will back the next generation of underrepresented alternative asset managers.
CalPERS will anchor the fund with a $500 million commitment, and TPG will continue to raise third-party capital to address its significant pipeline and compelling opportunity set across the diverse manager landscape. The target size of the fund was not disclosed.
TPG launched TPG NEXT to seed new managers, strengthen their access to capital, offer business building expertise, and provide strategic advisory support to talent that is chronically underrepresented in alternative asset management. The strategy aims to increase the number of diverse-led firms in alternative assets, aligning the industry more closely with broader demographic trends.
“We launched TPG NEXT to empower principal talent underrepresented in alternative assets to become next-generation industry leaders,” said Jon Winkelried, CEO of TPG. “CalPERS’ anchor com
