TPG Raises About $14 Billion for Buyout, Health-Care Funds

(Bloomberg) -- Private equity firm TPG has raised almost $14 billion for its eighth flagship buyout fund and a supplementary health-care pool as investors pour money into the industry.

The firm's latest flagship buyout fund, TPG Partners VIII, brought in about $11.2 billion, according to regulatory filings, and is fully subscribed. A health-care fund, TPG Healthcare Partners, raised another $2.6 billion, a filing showed. That pool will invest alongside the main fund in health-care deals.

Read more: TPG Raises $12 Billion for Main Buyout Fund, Closing In on Goal

The latest fundraising surpasses the $10.5 billion amassed for its seventh main pool in May 2016. Luke Barrett, a spokesman for TPG, whose main offices are in San Francisco and Fort Worth, Texas, declined to comment.

TPG and peers are benefiting from a robust fundraising market as investors continue to express confidence in the asset class. Private equity firms raised about $224 billion through the first half of this year, according to Preqin data.

Private equity health-care fundraising reached $122 billion in the first half of 2019, the best start to a year since at least 2013, the data show. Meanwhile, private equity health-care deals are down as the managed-care sector suffered its worst-first half performance in nearly a decade. Investor concerns about Medicare-for-all proposals for universal health coverage also continue to weigh on the sector.

The firm, co-founded by Jim Coulter, manages more than $108 billion across various strategies, including buyouts, growth, equity, credit, hedge funds and real estate.

The Wall Street Journal earlier reported on the fundraising.

To contact the reporter on this story: Melissa Karsh in New York at mkarsh@bloomberg.net

To contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Josh Friedman

©2019 Bloomberg L.P.