TPG Capital, a private equity investment firm, has plans to raise $3 billion for TPG Real Estate Partners III, according to a board meeting document from the Texas Municipal Retirement System.
TPG Real Estate Partners III is focused 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.
Texas Municipal recently committed $100 million to the fund, and in 2015, also committed $100 million to the fund’s predecessor, TPG Real Estate Partners II. Fund III makes up roughly 3 percent of Texas Municipal’s real estate portfolio, according to the document.
TPG’s real estate teams invest in and provide financing for a diverse set of real estate assets, platforms and property-rich companies. Its investments span a wide range of property types and geographi
