TPG Plans 'Bridge Fund' To Keep It Investing

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...