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TPG Private Markets Fund
Key Statistics
Fund Size
$309M
Target Return
N/A
Annualized Return
N/A
Launch Year
2025
Min. Investment
€25,000
Availability
Closed
Structure
Delaware Statutory Trust
Product Category
Closed-end
Domicile
United States
Liquidity Level
Semi-liquid
Management Fee
0.35%
Carry
No fund-level incentive fee; underlying TPG vehicles charge ~15% carried interest.
High Water Mark
No
Currencies
USD
Investor Eligibility
Accredited Investors
Liquidity Options
N/A
Highlights
Allocations
Geographic Focus
Investment Strategy
Information about fund
TPG’s Evergreen Private Equity, Six Months In
TPG Private Markets Fund (TPM) is TPG’s perpetual, semi-liquid private equity fund for US accredited investors, launched on 1 October 2025 with iCapital Fund Advisors as adviser and TPG as sub-adviser. As of 28 February 2026 it held about $309 million across 27 portfolio companies — 44% buyout, 23% growth, 23% GP-led secondaries and 9% liquid assets — with 71% in North America and a heavy technology tilt (61%). Both share classes had returned about 24% since inception, including a 12.5% gain in December 2025. Subscriptions are monthly, liquidity quarterly, and the minimum $25,000.
Key Figures (28 February 2026)
Net Asset Value
$309M
27 portfolio companies
Since Inception
~24%
Both classes; Dec 2025 +12.5%
Allocation
44% buyout
Growth 23, GP-led 23, liquid 9
Geography
71% N. America
Europe 22, Asia 7
Sector
61% tech
Consumer 19, healthcare 10
Terms
$25,000
Monthly in, quarterly out
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