TPG Amasses $4.8 Billion for Growth Fund, Beats Target (Correct)

TPG Inc. gathered $4.8 billion for the latest iteration of a fund that bets on rapidly growing earlier-stage companies.

The private equity firm said it exceeded its initial $4 billion target for
TPG Growth VI, adding new investors from the Middle East, Asia and Latin America. TPG took about two years to raise the fund, part of a strategy dating to 2007 that focuses on investments in software and enterprise technology, internet, digital media and communications, health care and business services.

TPG, which reported second-quarter earnings Wednesday that topped Wall Street estimates, has already committed about 40% of ...