TPG Asia VII raises US$4.6b – exceeds target

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KUALA LUMPUR (Feb 11): TPG, a global alternative asset firm, has raised over US$4.6 billion in commitments through its latest Asian focused private equity fund, TPG Capital Asia VII.

The amount exceeded the fund’s target.

In a statement today, TPG Capital Asia co-managing partner Ganen Sarvananthan said with TPG Asia VII, the firm will continue to invest in opportunities that reflect its differentiated investment strategy, deep sector expertise and focus on operational improvement.

According to TPG Capital Asia, TPG Asia VII has so far committed more than 40% of the capital across 12 companies, including Du Xiaoman – a consumer lending, wealth management and payments platform spun out from Baidu; Pathology Asia Holdings, Healthscope’s Asian Pathology business that operates 39 labs across Singapore, Malaysia and Vietnam; UPL, a global leader in agricultural solutions; and Greencross Ltd, an Australia-listed integrated pet care platform in Australia.

Comprising some 50 investment professionals, the TPG Capital Asia team is based in TPG’s offices in Beijing, Hong Kong, Mumbai, Seoul, Singapore and Melbourne.

The platform has invested US$11 billion in 88 investments across 13 countries through varied local and regional economic cycles. The team pursues investments in a broad range of industries, with a significant focus on financial services, healthcare, consumer, and technology, media and telecommunications/new economy.