It is understood that the approximately $1 billion secondaries deal TPG sealed in December with a Lexington Partners-led consortium helped the firm to raise capital to achieve a final close for TPG Asia VII. Partners Group, Adams Street Partners and HQ Capital were part of the consortium, as reported by sister title Secondaries Investor.
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Stapled Deal helps TPG Asia VII Over the Line
Private Equity International
12 Feb 2019
A roughly $1bn secondaries deal with Lexington Partners has helped the firm secure a final close above its target.
TPG has held the final close on its latest Asia-dedicated fund, after two years of fundraising, a rebuild of its management team and with the help of a stapled secondaries transaction.
The private equity giant received capital commitments of more than $4.6 billion for TPG Asia VII, exceeding its original target of between $4 billion and $4.5 billion, according to a statement.
