TPG Targets $3bn for Second Tech Adjacencies Fund

Private-equity firm TPG is pitching its second technology-focused fund which provides capital to technology companies that intend to remain private for longer. TPG’s Tech Adjacencies fund targets investments in technology companies that fall outside its other strategies.

The firm is targeting $3bn for its TPG Tech Adjacencies II LP fund, according to a document prepared for a meeting Monday of the Minnesota State Board of Investment’s investment advisory council. The board manages about $116.8bn of retirement, trust and cash assets, including money from the state’s three major public pension systems.

TPG’s active investors engage deeply with portfolio companies, bringing skilled executives and operating professionals to add value beyond capital and drive long-term performance. The firm manages approximately $85bn of assets across its investment platforms.

Source: Wall Street Journal