New Mexico commits $100 million to TPG

The New Mexico Educational Retirement Board has approved a $100 million commitment to TPG for its TPG Growth III vehicle.

TPG is targeting $3 billion for the vehicle which will focus on global growth equity investments.

The firm is currently in market with this fund and closed TPG Partners VII, the flagship buyouts vehicle on $6.5 billion in March, PEI reported at the time.

Both fundraises have gone surprisingly well for the firm which is rebounding after a few lackluster bets.

Other known investors in the fund include the State of Wisconsin Investment Board, which committed $50 million last week. The Teachers Retirement System of Texas also committed $250 million to the Vehicle in March. The Teachers Retirement System of Louisiana has also invested.