TPG closes real estate fund with nearly $7 billion in commitments

TPG Inc.’s TPG, -0.07% TPG Real Estate unit said Monday it drew in $6.8 billion in investor commitments for its TPG Real Estate Partners IV LP, part of a series of opportunistic real estate vehicles at the private equity firm. Kelvin Davis and Avi Banyasz, partners and co-heads of TPG Real Estate, led the effort for TPG. Shares of TPG are up 4.2% in the past three months.