Fundraising

TPG says it has expanded its sponsor network and completed almost 200 transactions.

The firm’s credit AUM is up 25% year-on-year as it chases an overall $40bn fundraising goal, across funds and strategies, for 2024.

Regulatory concerns focus on private debt’s perceived growth into new areas – but capital is flowing into an already well-trodden part of the market.

The deal follows a number of major commitments to European private credit from the Abu Dhabi sovereign wealth fund.

Fundraising bounced back in the second quarter to end H1 only just below the total seen in the same period last year.

After slow M&A activity in 2023, private lenders are becoming more aggressive as they fall behind schedule with their deployment of capital.

The firm’s latest risk transfer fund will sit alongside substantial SMA capital to provide balance sheet management services for banks.

The firm’s third fund will seek to raise €300m and expand its geographical footprint in Europe.

A new round of fundraising brings total deployable capital for the fund to €240m to back innovative sustainability businesses in the Netherlands.

The firm’s first foray into NAV financing will look to help private equity firms access capital to grow their businesses and portfolio companies.