Market wrap up: TPG closes just shy of $20B

Fund-raising punched its way through the $200 billion mark, thanks to nearly $20 billion megafund raised by TPG.

Buyout and mezzanine funds have now raised $226 billion in capital commitments year-to-date.

The Fort Worth, Texas-based firm closed its sixth flagship fund, TPG Partners VI, at $19.8 billion, surpassing its $18 billion target. TPG also raised about $6 billion for TPG Financial Partners LP. The firm raised $14 billion for its previous fund, which closed in 2006.

In addition, New York-based Crestview Partners has raised $2.2 billion towards the $2.5 billion target of its second generalist fund, Crestview Partners II LP.

Also adding to the activity was technology-focused private equity firm Accel-KKR, which closed Accel-KRR Capital Partners III at $600 million. The target was originally $450 million, but was raised to $500 million after the fund hit the initial goal with its first close.

Two disclosed deals

On the deals front, there were 12 LBO transactions during the past week. The two with disclosed prices had an aggregate value of about $1.5 billion, according to Thomson Reuters (publisher of PE Week).

LBO deals included Vestar Capital Partners’ acquisition of Unilever PLC’s laundry business in the United States, Canada and Puerto Rico for $1.45 billion.

The other LBO that had a disclosed price was PC Capital Partners Inc.’s acquisition of Componus Inc., a maker of vehicle parts, for $7.12 million. These two transactions brought the year-to-date deal volume to $104.1 billion.