TPG Founders Entice Beloved LPs for Bridge Fund

Ted Wheeler, Oregon State Treasurer

Ted Wheeler, Oregon State Treasurer

The Robert M. Bass Group alumni, David Bonderman and Jim Coulter, are trying to convince their long-term clients on ponying up between US$ 1.6 billion to US$ 2 billion to spend on deals (mostly in North America) until TPG Capital can raise another flagship private equity fund. This “bridge investment capital” would allow TPG Capital to postpone fundraising for TPG Partners VII – slated to have US$ 10 billion. Lousy performance during the financial crisis has shaken investor confidence in TPG’s buyout products. In a January 29 meeting, the Oregon Investment Council (OIC) staff recommended the fund authorize a US$ 700 million commitment to TPG Strategic Partners Interim Fund, L.P.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]



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