TPG has held a $3.9 billion final close for its Twin Brooks fifth drawdown fund, according to a transcript of the firm’s second quarter earnings call.
The fund exceeded its fund target and is 13 percent larger than its predecessor, said Jon Winkelried, CEO of TPG.
“Beginning with fund phone raising, we raised $6.3 billion in the second quarter. Importantly, over 70 percent of this capital or $4.5 billion was raised across our credit strategies. During the quarter, we held the final close for Twin Brooks’ fifth drawdown fund. In total, we raised $3.9 billion, which exceeded our original fund target and is 13 percent larger than its predecessor. This successful outcome was driven by Twin Brooks’ strong investment track record and differentiated focus on sponsor-backed lower middle market companies as investors seek to complement and diversify their exposure to
