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Report: TPG nears fundraising target for Rise Fund II

TPG is close to hitting its fundraising target for impact investing vehicle The Rise Fund II LP, Private Equity News reported.

The investment vehicle collected approximately $1.8 billion at the end of 2019, having an interim close in October 2019, according to the report. TPG was initially looking to raise as much as $3.5 billion for the fund, but it reportedly lowered its target to $2.5 billion in August 2019.

TPG did not comment on the matter, according to the news outlet.