TPG wraps up third real estate fund at over $3.7 bln


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real estate investment concept. Photo courtesy of utah778/iStock/Getty Images

TPG Real Estate Partners, TPG’s real estate platform, has closed its oversubscribed third fund at more than $3.7 billion.

TREP invests in commercial and residential properties in the U.S. and Europe.

In October 2015, TREP said it had raised more than $2 billion for its second fund. No performance data on the fund was available.

In addition to the fund-closing, TREP has appointed Louis-Simon Ferland and James Piper to join its London team as partners later this year. Recently, Ferland was managing director at Blackstone Real Estate while Piper was a partner at Ares Management.

With offices in London, New York, and San Francisco, TREP has invested more than $5 billion in 30 transactions, according to the firm.