TPG and Temasek bolster Cliffwater's growth with minority stake

TPG, a prominent global alternative asset management firm, and Temasek, a global investment company, have entered a definitive agreement to acquire a significant minority interest in Cliffwater LLC, an independent alternative investment advisor and fund manager. This strategic investment marks a pivotal advancement in Cliffwater's growth trajectory as it continues to provide innovative investment solutions to both institutional and retail investors. TPG's investment will be facilitated through its growth equity platform, TPG Growth. Stephen Nesbitt, Cliffwater's CEO, expressed enthusiasm about the partnership with TPG and Temasek, considering it a testament to Cliffwater's robust platform and its ability to deliver value. Peter McGoohan from TPG emphasized the potential in partnering with Cliffwater, given its pioneering position and proven success in the alternative investments sector. This move follows TA Associates' initial investment in 2023, which has already resulted in significant growth and strengthened Cliffwater's relationships, particularly in the high-net-worth investor sector. TA's Todd Crockett commended Cliffwater's leadership and innovative vision, which has solidified its position at the forefront of market expansion. The collaboration aims to further enhance Cliffwater's ability to meet the growing demand for private market exposure among investors.