PE giant TPG set to hit first close of new Asia fund at over $3b

PE giant TPG set to hit first close of new Asia fund at over $3b

San Francisco. Photo by Hardik Pandya on Unsplash

US private equity firm TPG Inc is set to reach the first close of its new Asia-focused fund at more than $3 billion, two people with direct knowledge of the matter told Reuters.

TPG kicked off fundraising of its eighth private equity fund for the region in January, targeting $6 billion, the company said during its March earnings call. If successful, the fund will be its largest Asia fund to date.

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