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Year Founded: 1992

AUM: $135B | Dry Powder: $52.9B

301 Commerce Street, Suite 3300, Fort Worth, TX 76102, US
TPG is a private equity firm that prefers to invest in companies operating in the consumer, healthcare, business services, internet, digital media & communications, software, and enterprise technology sectors. The firm also makes an impact and real estate investments

Key Contacts

  • Jon Winkelried
    Chief Executive Officer & Partner
  • Ken Murphy
    Chief Operating Officer
  • Jack Weingart
    Chief Financial Officer and Director

Investment Preferences

  • Preferred Industries
    Apparel and Accessories, Capital Markets/Institutions, Chemicals and Gases, Commercial Banks, Commercial Products, Commercial Services, Consumer Non-Durables, Energy Production, Other Energy, Retail, Software, Transportation, IT Services, Metals, etc.
  • Geographical Preference
    Asia, Europe, Middle East, North America, US
  • Preferred Deal Types
    Buyout/LBO, GP Stakes, PE Growth/Expansion
  • Other Investment Preferences
    Invests in GP Stakes, Prefers majority stake, Prefers minority stake, Seeks distressed investments, Seeks ESG investments, Seeks Impact investments, Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

TPG Rise Climate Fund
Vintage: 2021

Size: $7.3B

Dry Powder: $6.3B 

Details: The fund targets investments in the climate tech, agriculture and cleantech sectors

TPG Growth Fund V
Vintage: 2020

Size: $3.6B

Dry Powder: $1.6B

Details: The fund targets investments in the healthcare sector in Asia

The Rise Fund II
Vintage: 2020

Size: $2.2B

Dry Powder: $579M

Details: The fund targets investments in the agriculture & food products, healthcare, energy and education sectors

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In March 2023, Palmetto, a US-based clean energy platform, secured $150 million of development capital from TPG. The fund will be used to increase clean energy adoption and access to residential solar across the US.

In January 2023, Enpal, a rooftop solar installer, received $230 million in a Series D financing round led by TPG Rise Climate, the dedicated climate-investing subsidiary of TPG Rise. HV Capital, SoftBank Vision Fund II Capital, Princeville Climate Technology, Westly Group, and Activate Capital also participated in the round.

In October 2022, Form Energy, a grid-scale iron-air battery energy storage system developer, secured $450 million in a Series E financing round led by TPG’s global impact investing platform, TPG Rise. Temasek Holdings, ArcelorMittal, Coatue Management, and 10 other investors also participated in the round. The funds will be used to build Form Energy’s first manufacturing facility as well as to manufacture its multi-day battery.

In June 2022, CLEAResult, via its financial sponsor TPG, acquired Ecofitt, a Canada-based residential energy efficiency program implementer for utilities, retailers, and distributors, for an undisclosed amount. The acquisition provides both companies more opportunities to scale the impact of their decarbonization efforts from coast to coast.

In June 2022, Intersect Power, a utility-scale renewable energy developer, secured $750 million of development capital led by TPG. Trilantic North America, Climate Adaptive Infrastructure, and other undisclosed investors also participated in the round. The investment will provide significant capital to scale Intersect Power’s business, including the company’s renewable energy portfolio and new product pipeline.

In April 2022, Matrix Renewables, via its financial sponsor TPG, entered into a definitive agreement with Recurrent Energy to acquire a 105MW solar plus 80MWh energy storage project for an undisclosed sum. The Gaskell West 2 and 3 projects are located in Kern County, California.

In February 2022, Roeslein & Associates and Smithfield Foods sold a stake in Monarch Bioenergy to TPG for an undisclosed amount. Monarch Bioenergy is a producer of renewable natural gas based in Saint Louis, Missouri

In November 2021, Matrix Renewables acquired a portfolio of 91MW solar projects across Italy via its financial sponsor TPG for an undisclosed amount.

In August 2021, Form Energy, a developer of sodium-based energy storage systems, raised $240 million through a combination of debt and Series D venture funding in a deal led by ArcelorMittal. Eni Next, Perry Creek Capital, TPG, Sleeping Bear Capital and 11 other investors participated in the round.

Other Details

Founded in 1992, TPG is a global alternative asset manager with $135 billion in assets under management. TPG invests through its capital, growth, impact, real estate & market solution platforms. The firm focuses on consumer, healthcare, business services, internet, digital media & communications, software & enterprise technology sectors.

TPG’s recent open fund TPG Next Fund is a 2022 vintage buyout fund managed by TPG. The fund is located in Fort Worth, Texas and has a target size of $500 million .

Alloy Ventures, Alta Partners, Bain Capital, Baker Brothers Investments, Berkshire Partners, Caffeinated Capital, Canaan Partners, Cisco Investments, Desjardins Capital, EDBI, First Atlantic Capital, General Atlantic, Greylock Partners, HarbourVest Partners, ICONIQ Capital, JMI Equity, Khaira Capital, Lead Edge Capital, Xplorer Capital, Zesiger Capital Group are some of the co-investors who invest alongside TPG.

Source: Pitchbook, Company Website, Press Release