Friday, 22 May 2015
Last updated 2 hours ago
Jan 31 2014 | 1:05pm ET
Private-equity giant TPG Capital is seeking as much as $2 billion to play with while it raises its next flagship fund.
TPG announced the "bridge investment capital" fund at a public meeting of the Oregon Investment Council. The interim funding would allow TPG to keep investing as it seeks $10 billion for its TPG Partners VII, its first major fund since the financial crisis. That fund's investment period expires next year.
Oregon committed $700 million to the bridge fund, called TPG Strategic Partnership Interim Fund, for which TPG hopes to raise between $1.6 billion and $2 billion. The vehicle will eventually be rolled into TPG VII.
TPG co-founder James Coulter said the bridge fund would allow the firm to delay its major fundraising push by six months to focus on boosting its returns, which have flagged in recent years. Coulter told Oregon that it had "an extraordinary exit year" in 2013 and "we expect another one" this year, potentially increasing its appeal to investors.
Oregon also committed $250 million to a TPG credit fund.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…