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TPG Real Estate Closes Opportunistic Fund North of $6.8B

TPG Real Estate (TPGRE), the dedicated real estate platform of global alternative asset firm TPG, has closed its latest opportunistic real estate equity fund, TPG Real Estate Partners IV (TREP IV). The fund was oversubscribed, securing more than $6.8 billion of total commitments, nearly twice that of TREP III

TREP IV was formed as a continuation of TPGRE’s opportunistic real estate fund series. Its strategy focuses on thematic investing primarily in property‐rich platforms and strategic portfolio aggregations in the U.S. and Europe.  

“We are focused on investing behind themes backed by either long term secular trends or dislocations caused by capital market volatility,” said Avi Banyasz, co-head of TPGRE. “With the close of this fund, we have more dry powder than at any other time in TPGRE’s history.”  

TPGRE also manages TPG Thematic Advantage Core-Plus, which had its final closing earlier in 2022 at its hard cap of approximately $1.8 billion. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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