TPG Real Estate Partners closes TREP III fund at 3.7bn

Commercial mortgage spreads increase in Canada

TPG Real Estate Partners (TREP) announced its TPG Real  Estate Partners III fund has secured over $3.7 billion of capital commitments  and was oversubscribed.

“With the completion of the TPG  Real Estate Partners III fundraise, we are well-capitalized to execute our distinctive investment strategy and continue building a differentiated  investment portfolio,” said Kelvin Davis, Founder and Co-Head of TPG Real  Estate.

“From self-storage to senior  living, we focus on building property-rich platforms in high-growth asset  classes and markets, as well as in select areas of dislocation,” said Avi  Banyasz, Partner and Co-Head of TPG Real Estate. “Looking ahead, we will  continue to execute our strategy of investing in real estate-intensive  businesses, particularly in sectors where we believe we have proprietary  insight and operational competitive advantages.”

“We are thankful for the broad-based support of our existing  partners and are excited about newly formed partnerships with institutions  representing constituencies from around the world,” said Erin Nemser, Managing  Director and Head of Real Estate Fundraising. 


SEE ALSO :H.I.G. Capital closes €673 million H.I.G. Europe Real Estate Fund


TREP also announced additions to  its leadership team in Europe. Louis-Simon Ferland and James Piper will join  TREP’s London team as Partners later this year. Ferland most recently served as  Managing Director at Blackstone Real Estate and Piper as a Partner at Ares  Management.

Together with current TREP  Partner Michael Abel, Ferland and Piper will help lead the group’s European  investing efforts. Anand Tejani, a Partner in the London office, has retired  from the firm.

“Louis-Simon and James both have  significant experience sourcing, executing, and managing real estate  investments across Europe. We’re thrilled to welcome them aboard as we continue  to bolster our presence across the region,” continued Davis. “Anand has played an  important role in building our platform in Europe, and we thank him for his  contributions to the business.”  

Source: TPG Real Estate Partners