Kirk Falconer
The firm still expects its flagship funds in market to grow compared with their predecessors, according to chief financial officer Jack Weingart.
US and European bases of operation will 'give us runway to continue doing what we’ve been doing', says PE chief Jim Pittman, including 'growing our book of directs'.
Dyal Capital Partners V is by far the biggest GP stakes vehicle ever raised. It is 43% larger than the 2019-vintage Fund IV, which set the previous record.
The firm secured $14.2bn in fresh capital in the third quarter, bringing amounts raised since January to more than $44bn.
Fortune does not always favour the biggest firms.
'Private markets will ultimately follow the lead of public markets,' says senior managing director Sachin Bavishi. 'It creates an interesting environment for us, an environment that for deploying capital is more favourable than it was in 2021.'
The firm is set to hold a first close of $8bn for its latest flagship private equity fund and gathered $41bn of inflows across strategies in the second quarter.
TPG Partners IX and TPG Healthcare Partners II secured $10.6bn, or 57% of their combined target of $18.5bn, CFO Jack Weingart said in the firm’s Q2 2022 earnings call.
The firm's other flagship PE offering, Ares Special Opportunities Fund II, remains in the market after its hard-cap was bumped up to $7.1bn from $6.1bn.
'It is getting harder out there,' president and COO Jonathan Gray said in the firm’s second-quarter 2022 earnings call.