The 2013 PEI 300: The Top Ten

TPG’s five-year fundraising total is well down on the equivalent figure from 12 months ago – but it’s still outpacing all its private equity rivals

TPG tops the PEI 300 for the third year in a row and the fourth time in the last five years, having accumulated $35.7 billion in the period covered by this year’s ranking – although that’s well down on the near $50 billion total it recorded this time last year. 

As ever, the US-headquartered firm has had an extremely active last 12 months. On the investment side, it’s been signing big deals all around the world – including the $1.9 billion take-private of NYSE-listed Par Pharmaceutical last July and the $904 million buyout of Australian poultry business Inghams Enterprises in March.

And while TPG has only closed one fund in the last 12 months (TPG Growth II, which closed on $2.04 billion in 2012), it has been actively working to bolster its future firepower. It’s currently in market with a global buyout fund, which has a target of $12 billion; a mezzanine fund (targeting $1.5 billion); a new Asia fund (targeting $4 billion) and a China-specific growth fund (targeting RMB 4 billion). So don’t expect it to see start sliding down the PEI 300 leader board any time soon.

Private equity is just one of the strings to TPG’s bow these days – as evidenced by the $350 million separate account it landed with the New Jersey Division of Investment in October to do real estate deals. But it still manages to raise more money for the strategy than anyone else.

Elsewhere in the top 10, notable climbers were The Carlyle Group, whose inexorable fundraising machine propelled it up three places to number two; Warburg Pincus, up an impressive 10 places to number five; and Advent International (p. 61), up nine places to number seven. Unlike TPG, all three can now boast five-year fundraising totals that are ahead of the equivalent figure this time last year.