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Fundraising
The firm’s record-breaking seventh fund attracted more than a quarter of the capital committed to funds based in the region.
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The Spanish firm is seeking around €600m for its fourth buyout fund after a GP-led process on its 2015 Fund II with HarbourVest Partners.
The manager has raised $325m from its clients for TPG’s $2bn impact fund, The Rise Fund.
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The fundraise was limited in size due to a lack of investment opportunities.
Stellar returns have driven a huge amount of capital to technology-related investments.
Mirabaud has raised €50m for its ‘Living Heritage Fund’, which will back European SMEs with long histories.
Up to now the Swiss manager has focused on fund of funds, secondaries, co-investments and separately managed accounts.
Private equity firms raised more in the first half of 2017 since at least 2008, with the average fund size more than twice that of 2010.
The fund is more than double the size of its 2013 predecessor.
TPG Pace Holdings will target underperforming companies in the technology, media or business services sectors.