SUMMARY
TPG had launched its Asia-focussed fund 25 years back in 1994
It has invested over $11 Bn across 88 deals in 13 countries
It counts Indian companies such as Lenskart, Bookmyshow as part of its portfolio
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Global alternative asset company TPG announced the final close of its Asian focused private equity fund, TPG Capital Asia VII fund, after raising $4.6 Bn (INR 32,738 Cr) in commitments.
US-based TPG was founded in founded in 1992. Currently, the company has more than $103 Bn (INR 7.3 Lakh Cr) of assets under management. It also has offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore.
It has investment platforms across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity.
TPG had launched its Asia-focussed fund 25 years back in 1994. Till date, the company has invested over $11 Bn in 88 investments across 13 countries including Beijing, Hong Kong, Mumbai, Seoul, Singapore, and Melbourne.
The TPG Capital Asia VII fund has till date committed more than 40% of the capital across 12 companies, including Maharashtra-based agricultural solution provide UPL. It counts Indian companies such as Lenskart, Janalakshmi Financial Services, and BookMyShow as part of its portfolio. In July 2018, it was also reported that TPG is in talks to invest $40 Mn in home design and décor service provider Livspace
“With Asia VII, we will continue to invest in opportunities that reflect our differentiated investment strategy, deep sector expertise, and focus on operational improvement. We look forward to continuing to deliver value for our investors while helping to build great new companies across Asia,” said Ganen Sarvananthan, comanaging partner at TPG Capital Asia.
The company’s other arm TPG Growth which specialises in growth equity and middle-market is, also bullish about investing in the Indian companies. In September 2018, TPG Growth had led the $70 Mn Series C funding round in home decor service provider Livspace.
In order to tap the growing Asian market, many of the foreign investors have been focusing on the Asian countries.
Most recently, it was reported that US-based alternative investment manager, Proterra Investment Partners is planning to launch an Asia-focussed fund between $700-$800 Mn in 2019 to invest in the food and agriculture markets. Also, private equity firm Bain Capital LLC had closed its new Asia-focused fund at $4.65 Bn (INR 33, 066 Cr) in December 2018.
Hong Kong-based private equity firm PAG and asset manager Angus Wai also launched an Asia-focussed hedge fund named Polymer Capital Management.
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