TPG Real Estate, TPG’s dedicated real estate investment platform, has raised $2bn (€1.8bn) for its Real Estate Partners II fund.
The US private equity company said the fundraising exceeded the fund’s objective.
Investors include public and private pension funds, sovereign wealth funds, insurance companies and other institutional investors.
Avi Banyasz, partner at TPG and TPG Real Estate co-head, said: “TREP II will continue to implement our differentiated investment strategy focused on real estate platforms and property-rich companies.”
The Texas Municipal Retirement System recently approved a $100m commitment to TPG Real Estate’s latest US and European opportunistic fund, TPG Realty Fund II.
In August, it was announced that TPG was buying TriGranit, a Central European real estate developer.
TPG Real Estate’s equity investment and debt-origination platform manage more than $6bn in assets across TPGRE and other TPG-sponsored vehicles.