TPG Next (b), L.P. is a private equity fund based in Fort Worth, Texas. According to its most recent Form D, filed Apr 4, 2025, it has sold $564,500,000 of interests to 3 investors since its first sale in Dec 2024. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Related persons named in the filing include TPG Next Genpar Advisors, LLC; Joann Harris; Martin Davidson.
- Total raised
- $564,500,000Cumulative sales reported on Form D
- Investors
- 3
- First sale
- Dec 20, 2024
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- TPG Next Genpar Advisors, LLC; Joann Harris; Martin Davidson
- Latest Form D
- Apr 4, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about TPG Next (b), L.P.
What is the minimum investment for TPG Next (b), L.P.?
TPG Next (b), L.P.'s latest Form D, filed Apr 4, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in TPG Next (b), L.P.?
TPG Next (b), L.P. is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(c), so it may advertise, but every investor must be verified as accredited.
How much has TPG Next (b), L.P. raised?
TPG Next (b), L.P. reports $564,500,000 sold from 3 investors on its Form D filed Apr 4, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is TPG Next (b), L.P. based?
TPG Next (b), L.P. is based in Fort Worth, Texas.
When did TPG Next (b), L.P. launch?
TPG Next (b), L.P. reports its first sale in Dec 2024.
Size compared with every private equity fund
Raised more than 96% of the 1,472 private equity funds based in Texas, and more than 91% of all 9,142 that report sales.