TPG raises more than $2b

TPG Real Estate has announced the final close for its TPG Real Estate Partners II, raising more than $2 billion of equity commitments, exceeding the fund’s objective.

Investors in TREP II include public and private pension funds, sovereign wealth funds, insurance companies, and other institutional investors. Recent investors include the Texas Municipal Retirement System and New Jersey Division of Investment.

TREP II will continue to implement a differentiated investment strategy focused on real estate platforms and property-rich companies that leverages the firm’s broader capabilities to optimize property performance and enhance platform capabilities.

TREP has invested more than $3 billion of equity in residential properties and approximately 1,100 commercial real estate assets in diversified North American and Europe