TPG Asia VII has so far committed more than 40% of the capital across 12 companies.
Global alternative asset firm TPG announced the final close of its latest Asia-focused private equity fund, TPG Capital Asia VII, on Monday. The fund raised over $4.6 billion in commitments, exceeding its target, TPG said in a statement. TPG Asia VII has so far committed more than 40% of the capital across 12 companies. These include Du Xiaoman, the consumer lending, wealth management and payments platform spun out from Baidu; Pathology Asia Holdings, Healthscope’s Asian Pathology business that operates 39 labs across Singapore, Malaysia and Vietnam; agricultural solutions firm UPL; and Greencross, an ASX-listed integrated pet care platform in Australia, according to the statement.
Ganen Sarvananthan, co-managing partner for TPG Capital Asia, said that with Asia VII, the fund will continue to invest in opportunities that reflect its 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,” he said.