Sept 8 (Reuters) – Private equity firm TPG [TPG.UL] will spend all of the $30 billion in new funds raised this year on a broad range of investments, from Asian assets to distressed banks and corporate takeovers, the Wall Street Journal said.
TPG is putting the new capital to work across three funds — $19.8 billion for its sixth flagship buyout fund, a roughly $6 billion financial services investment vehicle and a $4 billion Asian fund, the paper said.
While the Fort Worth, Texas-based firm has previously described its intentions to raise the three funds, their final size hasn’t been disclosed to date, the Journal said.
No one was available at TPG for immediate comments. (Reporting by Sweta Singh in Bangalore, editing by Will Waterman)