TPG Growth racks up $3.7 bln for fourth fund

TPG Growth, the middle market and growth platform of TPG, has closed its fourth fund at a hard cap of $3.7 billion.

TPG Growth invests in a wide range of industries and geographies.

As a result of this fund-closing, TPG Growth manages more than $13 billion in assets. Current and past investments include Airbnb, SurveyMonkey, Uber, Spotify and e.l.f. Cosmetics.

In April 2015, TPG Growth closed its previous fund at more than $3 billion, generating a multiple of 1.1x and a net IRR of 13.60 percent as of June 30, 2017, according to data provided by the Washington State Investment Board.

A white piggy bank with a pile of money. Photo courtesy of busypix/iStock/Getty Images