TPG is closing TPG Growth III at $3 billion in aggregate capital commitments, above its $2.75 billion fundraising target, spokeswoman Lisa Baker said.
TPG Growth III invests in small and midsized companies and is the largest growth fund yet for the private equity manager. The first and second fund closed at $1.3 billion and $2 billion respectively.
Investors include the $132 billion Texas Teacher Retirement System, Austin; State of Wisconsin Investment Board, Madison, which oversees $106.2 billion, including $98 billion of the Wisconsin Retirement System; New Jersey Division of Investment, which manages investments for the $76.8 billion New Jersey Pension Fund, Trenton; $20.5 billion New Mexico State Investment Council, Santa Fe; and $11.4 billion New Mexico Educational Retirement Board, Santa Fe.
TPG has $67 billion in assets under management.