TPG Gets Over $2 Billion for First Multi-Investor Property Fund
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Firm began real estate business after global financial crisis
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Blackstone, Carlyle among others to raise billions this year
TPG Capital finished gathering more than $2 billion of capital pledges for its first multi-investor real estate fund, slightly exceeding its target at a time of volatility in financial markets.
The Fort Worth, Texas-based firm, whose property unit is led by Kelvin Davis and Avi Banyasz, began raising the new pool about 20 months ago.
TPG, like rival buyout firm KKR & Co., began a dedicated real estate business after the financial crisis as Wall Street banks exited or scaled back. Plunging prices for homes and buildings and related debt created an opportunity to acquire bargain assets in the U.S. and Europe. The company has invested in assets including office buildings, homebuilders, warehouses, self-storage units and publicly traded real estate investment trusts…
TPG Gets Over $2 Billion for First Multi-Investor Property Fund
