TPG Capital Plans Up to $5B Fund for Asia

TPG Capital is preparing this month to launch a new $4-5 billion fund to invest in Asia, Reuters reported Thursday. TPG, a U.S.-based firm founded in 1992, currently invests into Asia from a $19.8 billion global fund raised in 2008, and its $4 billion regional fund TPG Capital Partners V, raised in the same year, Reuters wrote.

(Reuters) – Global private equity firm TPG Capital is preparing to launch a new $4-5 billion fund to invest in Asia, the largest fund seen in the region since the global downturn, two sources with knowledge of the matter told Reuters.

The sources said the official launch of the fund was scheduled for mid-October.

TPG, a U.S.-based firm founded in 1992, currently invests into Asia from a $19.8 billion global fund raised in 2008, and its $4 billion regional fund TPG Capital Partners V, raised in the same year.

The sources declined to be named as they were not authorised to talk to the media. TPG’s external public relations advisers were unable to provide immediate comment.

The Asia fund is around 75 percent invested, one of the sources said. Its limited partner (LP) investors, include California Public Employees’ Retirement System, according to Thomson Reuters data.

The firm, with more than $48 billion in assets under management globally, has current Asia investments including Comtec Solar and Wumart Stores in China, Shriram Transport Finance Co and Lilliput Kidswear in India, and United Test & Assembly Centre in Singapore.