Kirkland & Ellis advised TPG Real Estate (TPGRE), the dedicated real estate platform of global alternative asset firm TPG, on the close of its latest opportunistic real estate equity fund, TPG Real Estate Partners IV (TREP IV). The fund was oversubscribed, hitting its hard cap and securing more than $6.8 billion of total commitments. TREP IV was formed as a continuation of TPGRE’s opportunistic real estate fund series. Its strategy focuses on thematic investing primarily in property‐rich platforms and strategic portfolio aggregations in the US and Europe. Since inception, TPGRE has invested and committed approximately $9.1 billion of equity in line with this strategy.
The Kirkland team was led by investment funds partners Kelly Ryan, Brett Saltzman, Kevin Pavloski and Julia Trotta and associates Josh Morgan, Jordan Keeton, Katya Keremidchieva, Michael Shea and Minjoo Kim and was assisted by investment funds partner John Pennington. The global team for this fundraise also included tax partners Mike Beinus, Meredith Levy, Jonathan Kandel, Frixos Hatjantonas and Katherine Durkacz and associates Lora Shub-Brown, Rachelle Stapley, Bojana Ilic and Varnika Chawla, regulatory partners Matt Cohen, Nicholas Hemmingsen, Reed Schuster, Zach Milloy and Phil McEachen and associate Danielle Sartain, employee benefits partner Sabrina Glaser, and debt finance partners Jocelyn Hirsch and Aditi Iyer and associate Sean Sullivan.