PE · PRIVATE EQUITY

TPG Private Markets Fund

iCapital · Tender offer fund

Program Overview

Tender offer fund

Peer Group Filters

Objectives: Capital Appreciation
Asset Class: Private Equity
Vehicle: Tender Offer Fund
Single / Multi Asset: Multi-Asset

Sponsor/Manager

iCapital

Asset Class

Private Equity

Issuer

TPG Private Markets Fund

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Perpetual

Securities Offered

Equity - Class A Shares Equity - Class I Shares Equity - Class F Shares

Target Leverage

Minimum 300% asset coverage Fund-level 1940 Act 300% asset coverage (about 1/3 of total assets); preferred shares authorized. No borrowings at 3/31/2026 or 6/30/2026; no facility planned in year one. Fund assets may be pledged. Underlying TPG vehicle and company leverage is not limited.

Strategy Risk/Return Profile

Managing Broker-Dealer

iCapital Markets LLC

Scale

4,500 Class A shares outstanding · 147,988 Class I shares outstanding · 32,113,224 Class F shares outstanding · 30 Portfolio companies (look-through)

Maximum Offering

$1,301,496,086

Minimum Investment

$10,000

Class A Shares · waivable

Strategy Overview

The prospectus states the Fund seeks long-term capital appreciation. It intends to allocate at least 80% of net assets plus investment borrowings to private equity Investment Interests sponsored or managed by TPG, and at least 80% of total assets to Direct Access Investments: buyout and growth equity investments made deal-by-deal through or alongside TPG funds, including GP-led secondaries, held through TPG special purpose vehicles. About 10% is held in liquid assets. The Fund may borrow to 1940 Act limits and may reallocate away from TPG and private equity. TPG is not a sponsor or affiliate of the Fund.

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