TPG raises $3.7bn

The alternative asset firm announced closing of its fourth growth equity platform.

TPG held a final close on $3.7 billion for its TPG Growth IV, surpassing its original $3 billion target.

Investors of the fund include the New Mexico State Investment Council, Teachers’ Retirement System of Louisiana, Kansas Public Employees Retirement System, New Jersey Division of Investment, Teacher Retirement System of Texas, Florida State Board of Administration, Cambridge Associates, San Francisco Employees’ Retirement System, Washington State Investment Board, California Public Employees’ Retirement System and Employees’ Retirement System of the State of Hawaii.

The firm will target a growth equity strategy across different companies and regions, including North America, Middle East, Africa and Asia-Pacific.