{"id":1648066,"date":"2022-09-20T05:06:12","date_gmt":"2022-09-20T09:06:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1648066"},"modified":"2022-09-20T05:06:42","modified_gmt":"2022-09-20T09:06:42","slug":"tpg-to-reach-first-close-of-new-asia-fund-at-over-3-billion-sources","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tpg-to-reach-first-close-of-new-asia-fund-at-over-3-billion-sources\/","title":{"rendered":"TPG to reach first-close of new Asia fund at over $3 billion \u2013 sources"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftpg-to-reach-first-close-of-new-asia-fund-at-over-3-billion-sources%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1648066&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Kane Wu and Anshuman Daga<\/p>\n<p>HONG KONG\/SINGAPORE (Reuters) \u2013     U.S. private equity firm TPG Inc is set to reach first-close of its new Asia-focused fund at more than $3 billion, two people with direct knowledge of the matter told Reuters.<\/p>\n<p>TPG kicked off fundraising of its eighth private equity fund for the region in January, targeting $6 billion, the company said during its March earnings call. If successful, the fund will be its largest Asia fund to date.<\/p>\n<p>The Fort Worth, Texas-based firm is expected to announce the first-close in November, said one of the two sources and a third person with knowledge of the matter.<\/p>\n<p>Private equity funds typically begin investing after their first-close, when they have received an initial round of commitments from investors.<\/p>\n<p>All the sources declined to be identified as they were not authorised to speak to the media. TPG declined to comment.<\/p>\n<p>TPG is among a slew of global and regional private equity firms that are raising new funds for the region this year.<\/p>\n<p>Hong Kong-based Baring Private Equity Asia last week announced it had closed its eighth, and largest, pan-Asia fund at $11.2 billion.<\/p>\n<p>TPG\u2019s U.S rival Carlyle Group aims at raising $8.5 billion in a new Asia fund, according to separate people familiar with the situation. Carlyle declined to comment.<\/p>\n<p>The first-close of the TPG fund will come against the backdrop of challenging global macroeconomic and geopolitical environment that has triggered a sharp sell-off in markets and a rise in financing costs.<\/p>\n<p>In Asia, the total value of deals backed by private equity in 2022 up to Sept. 15 was $121.5 billion, plunging 41% from a year earlier, according to Refinitiv data.<\/p>\n<p>The slowdown is more significant in China, with total deal value down 72% on 2021, as coronavirus-control measures in many parts of the country hurt the economy and prevent potential transactions going ahead.<\/p>\n<p>TPG\u2019s new Asia fund will have about 20% of its capital allocated to China investments, as did its previous last two funds, according to the third source. <\/p>\n<p>TPG declined to comment on allocations of specific markets.<\/p>\n<p> (Reporting by Kane Wu in Hong Kong and Anshuman Daga in Singapore; Editing by Louise Heavens and Bradley Perrett)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/tpg-to-reach-first-close\/a-screen-announces-the-listing-of-private-equity-firm-tpg-during\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8J0CO-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8J0CO-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Kane Wu and Anshuman Daga HONG KONG\/SINGAPORE (Reuters) \u2013 U.S. private equity firm TPG Inc is set to reach first-close of its new Asia-focused fund at more than $3<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1648066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1648066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1648066"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1648066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1648066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1648066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1648066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}