TPG is stepping up fundraising across its real estate platform as the private equity firm seeks to capitalise on lower valuations following the sector’s recent downturn, Bloomberg reports. 

The firm aims to raise between $9bn and $10bn for its next opportunistic real estate fund, according to chief executive Jon Winkelried. Investor interest has picked up after property values declined by 15% to 25%, creating opportunities that were previously unavailable.

TPG is also preparing to raise the next generation of its AG Real Estate funds. In addition, the firm plans to launch a dedicated Japan real estate vehicle focused on office and hospitality assets.

Winkelried said market stress has brought higher-quality assets to market, allowing TPG to pursue deals more aggressively. He added that timing the cycle remains central to delivering attractive returns.

Beyond institutional capital, TPG is developing real estate products for wealth investors. The firm is working on a structure that could combine equity and credit exposure, broadening access to property strategies.

The fundraising push highlights how large private equity firms are repositioning real estate platforms as pricing resets revive transaction activity.

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