TPG Growth Fund IV raises $3.7 bln

TPG Growth said Dec. 8 that its fourth fund closed on $3.7 billion in commitments. TPG Growth, the middle market and growth equity platform of TPG, hit its hard cap on LP commitments in four months.


SAN FRANCISCO & FORT WORTH, Texas–(BUSINESS WIRE)–TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, announced today the closing of its fourth fund, TPG Growth IV. The fund reached $3.7 billion in commitments, achieving its hard cap on LP commitments in four months.
“We are long-term partners to entrepreneurs, founders, and management teams, working with them to build and scale their businesses,” said Bill McGlashan, Founder and Managing Partner of TPG Growth and Co-Founder and CEO of The Rise Fund. “We focus on key themes across different geographies and industries, utilizing a variety of financial structures, which enables us to be both disciplined and opportunistic. The close of TPG Growth IV is a testament to the strength of our strategy, collaborative culture, globally integrated approach, and commitment to growth and innovation. We want to thank our limited partners for their strong support, and we look forward to generating fruitful new opportunities with the ongoing support of the broader TPG platform.”
TPG Growth partners with companies in a range of sectors and geographies, from thriving consumer businesses in India such as Lenskart to global consumer brands such as Fender. TPG Growth has also co-founded innovative businesses—including enterprise artificial intelligence platform and next-generation global media company STX Entertainment—in partnership with industry-leading executives. Other current and past investments include Airbnb, Beautycounter, C3 IoT, e.l.f. Cosmetics, ipsy, Philz Coffee, Schiff Nutrition, Spotify, SuccessFactors, SurveyMonkey, and Uber.
With the close of its fourth fund, the TPG Growth platform now manages more than $13 billion in assets. Earlier this year, the platform announced that The Rise Fund—a global social impact fund co-founded by Bill McGlashan, Bono, and Jeff Skoll and managed by TPG Growth—closed at $2.1 billion in commitments. The Rise Fund has made seven investments since its launch this year, and is considered the largest private impact fund ever raised.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $13 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $73 billion of assets under management. For more information, visit