TPG Real Estate Partners Closes Fund with More Than $three.7 Billion of Capital Commitments
SAN FRANCISCO & FORT WORTH, Texas & LONDON–(BUSINESS WIRE)–TPG Real Estate Partners (TREP), the committed actual property fairness funding platform of world opportunity asset firm TPG, introduced these days the final of its modern-day opportunity fund, TPG Real Estate Partners III. The fund secured over $3.7 billion of capital commitments and was oversubscribed.
TREP invests in commercial and residential residences across America and Europe via a method in most cases focused on acquiring and constructing property-rich structures and groups. Leveraging a thematic approach and operating talents, TREP partners with nice-in-class control groups to create institutional portfolios of owned real property throughout a wide variety of property types.
“With the completion of the TPG Real Estate Partners III fundraises, we’re nicely-capitalized to execute our exceptional funding strategy and keep constructing a differentiated funding portfolio,” stated Kelvin Davis, Founder, and Co-Head of TPG Real Estate.
“From self-garage to senior dwelling, we focus on building property-rich platforms in excessive-boom asset classes and markets, as well as in select regions of dislocation,” stated Avi Banyasz, Partner and Co-Head of TPG Real Estate. “Looking ahead, we can maintain to execute our method of investing in actual estate-in depth agencies, especially in sectors wherein we believe we have proprietary perception and competitive operational blessings.”
“We are grateful for the wide-primarily based assist of our existing partners and are enthusiastic about newly fashioned partnerships with establishments representing constituencies from around the sector,” stated Erin Nemser, Managing Director and Head of Real Estate Fundraising.
TREP has effectively invested over $five billion of equity across 30 transactions up to now. With offices in London, New York, and San Francisco, the TREP crew is created from over 30 dedicated specialists. TREP benefits from the intellectual capital, the international community, and operational sources of the broader TPG platform.
Since its inception, TREP has constructed a robust investment portfolio across a selection of thematic sectors and asset lessons. Current and past investments encompass A&O Hotels and Hostels, Catellus, Enlivant, Evergreen Industrial Properties, Life Storage, P3 Logistic Parks, Taylor Morrison, and TriGranit.
Additions to European Leadership
TREP also announced additions to its leadership crew in Europe. Louis-Simon Ferland and James Piper will join TREP’s London group as Partners later this 12 months. Ferland most lately served as Managing Director at Blackstone Real Estate and Piper as a Partner at Ares Management.
Together with current TREP Partner Michael Abel, Ferland and Piper will help lead the group’s European investing efforts. Anand Tejani, a Partner within the London workplace, has retired from the firm.
“Louis-Simon and James each have vast enjoy sourcing, executing, and dealing with actual property investments throughout Europe. We’re thrilled to welcome them aboard as we maintain to bolster our presence across the location,” persisted Davis. “Anand has performed a vital function in constructing our platform in Europe, and we thank him for his contributions to the commercial enterprise.”
About TPG Real Estate
TPG Real Estate (“TPGRE”) is the actual estate platform of TPG, a main international alternative asset company with extra than $103 billion of property below management and 17 offices around the arena. TPGRE includes TPG Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate Finance Trust (NYSE: “TRTX”), its debt origination and acquisition platform. TREP often focuses on investments in real property-wealthy organizations, assets portfolios, and choose unmarried property located in North America and Europe. TRTX originates and acquires senior actual property loans throughout a broad spectrum of asset training in North America. TPGRE presently manages approximately $10.Four billion in assets across both structures