Fundraising

TPG GP Solutions has ‘line of sight” to reach $1bn, CEO Jon Winkelried said in the firm’s second-quarter earnings call.

The strategy is ‘poised to scale and become a flagship fund’, executives said on the firm’s second-quarter earnings call.

The firm also expects a final close on Hamilton Lane Infrastructure Opportunities Fund II this year.

The firm, founded by Siguler Guff‘s former secondaries head, is yet to hold the final close for Banner Ridge Secondary Fund V, Secondaries Investor understands.

Secondaries Infrastructure Solutions III will target an 11-14% net internal rate of return, according to documents prepared for a US public pension.

The listed firm, which is on the fundraising trail for its continuation fund business, seeks to address the ‘enormous’ demand for capital for GP-leds, says co-CEO Doug Ostrover.

Secondaries Investor reported in February that Glendower Capital Secondary Opportunities Fund V was expected to close over the summer.

The total amount raised between January and June eclipses all of 2019 when just $36.9bn was collected in final closes.

Pantheon Global Infrastructure Fund IV’s target, capital raised so far and deal log were disclosed in a presentation to a US pension this week.

The vehicle, which is around 30% larger than its predecessor, has been in market for just over two years and is already one of the largest dedicated standalone funds for secondaries.