TPG closed its latest private equity fund, TPG Partners VII, with $10.5 billion in commitments, including $400 million invested by the alternative investment firm and its employees, said a spokeswoman.
The fund had an $8 billion target and $10 billion hard cap, sources said. TPG closed its previous fund, TPG Partners VI, at $18.9 billion in 2008.
TPG Partners VII so far has invested $2.1 billion in six companies — Cirque du Soleil, real estate brokerage firm Cushman & Wakefield, educational software company Ellucian, integrated midstream company EnLink, Life Time Fitness, and U.K. retail chain Poundworld.
Investors in the fund include the $178.3 billion New York State Common Retirement Fund, Albany; $99.1 billion State of Wisconsin Investment Board, Madison; $64.4 billion Virginia Retirement System, Richmond; $16.3 billion Louisiana Teachers’ Retirement System, Baton Rouge; and $16 billion Kansas Public Employees Retirement System, Topeka.