TPG NEXT anchors Black-led private equity strategy

ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, January 16 — TPG NEXT, backed by a $500 million allocation from the California Public Employees’ Retirement System, has lined up a pipeline of 150 diverse alternative asset managers.

The latest: The Visualize Group, which hunts for middle-market public and private market investment opportunities in “under-followed, under-researched and under-invested” companies offering business and industrial services, said Visualize’s Melvin Ike. “We are focused on making strategic, long-term investments in high-quality companies and serving as a partner to these teams in navigating their growth.”

Ike left Blackstone last year to launch Visualize. “Mel is a talented investor and entrepreneur who is building a firm that capitalizes on his distinctive approach to the private and public markets,” said TPG NEXT’s Pamela Pavkov.

Return on inclusion

TPG NEXT joins the Visualize private equity strategy alongside a roster of LPs that include university endowments, foundations and family offices.

“We are looking to back investor entrepreneurs who have developed a differentiated strategy and have the entrepreneurial drive required to build an innovative investment firm,” said Pavkov.

Through its investor-in-residence program, TPG NEXT has backed Latino-led Vamos Ventures and Black-led Harlem Capital and LandSpire Group.