TPG Direct Lending Unit Amasses $3.9 Billion for Its Fifth Fund

TPG Inc.’s Twin Brook Capital Partners closed its fifth direct lending fund with $3.9 billion of aggregate capital commitments, surpassing a $3 billion target, according to a person familiar with the matter.

TPG AG Direct Lending Fund V received some $1.7 billion of commitments in the 10 days before the offering period ended, said the person, who asked not to be identified as the matter is private.

The fund, which closed on June 30 according to the person, was launched in 2022. Its managers saw an ownership change midway through the fundraise as Twin Brook’s parent, Angelo Gordon, ...