Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Funds / The Rise Fund III, L.P.

The Rise Fund III, L.P.

Active deploymentUnknownFundADV: Private Equity FundTPG Capital Advisors, LLCDelaware
Amounts, each with its basis
Vintage
2022basis: form d first sale
Target
unknownnot announced
First close
unknownnever inferred from a Form D
Final close
unknownonly from an announcement or an LP disclosure
Announced size
unknown
Form D offering
indefinitewhat may be sold, not what was raised; file 021-444122, sworn by the adviser or filed under this vehicle
Form D sold
$2.4Bas of the filing of Jul 7, 2023, 132 investors
First sale
May 5, 2022
Reported GAV
$3.1Bon the Form ADV filed Oct 22, 2024; the fund's assets, never its size or dry powder
Owners (ADV)
152
Reported on ADV
Mar 30, 2023 to Oct 22, 2024
Fundraising evidence
Unknown
latest Form D 2023-07-07, older than 15 months (fr-1)
evidence dated Jul 7, 2023. A Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Lifecycle
Active deployment
vintage 2 to 4 years
age years: 4first sale: 2022-05-05vintage year: $2,022adv gav as of: 2024-10-22vintage basis: form_d_first_saleform d sold usd: $2.4Bform d offering usd: n/aform d latest filed at: 2023-07-07
The fund's own reporting through time
11 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Mar 30, 2023Private Equity Fund$2.4B
980%yes
May 23, 2023Private Equity Fund$2.4B
980%yes
Sep 28, 2023Private Equity Fund$2.4B
980%yes
Dec 1, 2023Private Equity Fund$2.4B
980%yes
Dec 20, 2023Private Equity Fund$2.4B
980%yes
Mar 28, 2024Private Equity Fund$3.1B
1523%yes
May 21, 2024Private Equity Fund$3.1B
1523%yes
Jul 30, 2024Private Equity Fund$3.1B
1523%yes
Sep 27, 2024Private Equity Fund$3.1B
1523%yes
Sep 27, 2024Private Equity Fund$3.1B
1523%yes
Oct 22, 2024Private Equity Fund$3.1B
1523%yes
Principals and agents
9 principals on Form D, 4 placement agents
  • Joann Harris Executive Officer
  • Bradford a. Berenson Executive Officer
  • Martin Davidson Executive Officer
  • KEN a. Murphy Executive Officer
  • Nadia a. Karkar Executive Officer
  • The Rise Fund GenPar III, L.P. Executive Officer/Director/Promoter
  • The Rise Fund GenPar III Advisors, LLC Executive Officer/Director
  • Steven a Willmann Executive Officer
  • Jordan a Kolar Executive Officer
  • Morgan Stanley Smith Barney LLC placement agent
  • UBS Financial Services Inc. placement agent
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated placement agent
  • Bfinance US Ltd. placement agent
Limited partners and their reported performance
2 public LP reports
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
Washington State Investment Board sib.wa.gov2023$250M$216M$25.7M$260M23.3%1.3xDec 31, 2025
California Public Employees' Retirement System calpers.ca.gov2023$100M$87.0M$9.6M$104M22.9%1.3xDec 31, 2025

Each row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).

Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
6 events
  1. Dec 31, 2025
    WSIB reports The Rise Fund III, L.P.: $250,000,000 committed, vintage 2023, net IRR 23.2%, 1.3x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Dec 31, 2025
    CalPERS reports The Rise Fund III, L.P.: $100,000,000 committed, vintage 2023, net IRR 22.9%, 1.3x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  3. Jul 7, 2023
    Rise Fund III, L.P. filed Form D/A: $2,418,902,500 sold (indefinite offering), Private Equity Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
  4. Mar 30, 2023
    The Rise Fund III, L.P. first reported on Form ADV by TPG Capital Advisors, LLC (Private Equity Fund), GAV $2,396,600,000
    Fund first reported on Form ADV Fact SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  5. Aug 12, 2022
    Rise Fund III, L.P. filed Form D/A: $1,550,000,000 sold (indefinite offering), Private Equity Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
  6. May 2, 2022
    Rise Fund III, L.P. filed Form D: no sales yet (indefinite offering), Private Equity Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
50 observations
Every observation on this vehicle