TPG Capital, the Texas-based private equity firm, has given investors in its latest Asian fund, TPG Asia V, the option to cut commitments by up to 10%, according to Reuters. The $4.2 billion fund could see commitments cut by $420 million.
TPG will not be reducing its $115 million commitment to the fund, the report says.
In February, TPG returned 25% of commitments for a $6 billion fund it raised to invest in distressed financial companies.
The firm, formerly known as Texas Pacific Group, has over $50 billion of capital under management and typically makes investments of between $100 million and $750 million.
D.C.