TPG raises $2.2bn

The Texas firm has raised capital for its diversified buyout fund.

Fund name: The Rise Fund II
Target size: $2.5 billion
Amount raised: $2.17 billion
Predecessor fund: The Rise Fund ($2 billion)

TPG has raised $2.17 billion for The Rise Fund II, according to a Form D filed by the firm. Capital committed to the fund will be used to invest in companies throughout the world across diversified sectors including agribusiness.

The vehicle received commitments from several institutional investors, including $250 million from Washington State Investment Board and $125 million from New Jersey Division of Investment.