TPG Private Equity Opportunities, L.P. 8-K

What Happened

• TPG Private Equity Opportunities, L.P. (the Fund or T-POP) filed an 8-K on March 25, 2026 reporting unregistered sales of limited partnership units and publishing its Transactional Net Asset Value (Transactional NAV).
• On March 1, 2026 the Fund sold Units in its continuous private offering for aggregate consideration of $132.6 million. The broader T-POP Fund Complex (including parallel vehicles and feeders) issued interests for about $149.0 million in aggregate.

Key Details

• Unregistered unit sales on March 1, 2026 (aggregate $132.6M):
  • Class R-I: 2,813,636 units for $86,548,970
  • Class R-S: 1,439,863 units for $44,003,421
  • Class R-D: 65,163 units for $2,000,000
• Feeder TE (a feeder vehicle for tax-exempt and non-U.S. investors) issued interests included in the Class R-I totals (1,100,007 Class R-S_TE; 501,680 Class R-I_TE; 157,761 Class F_TE).
• Transactional NAV (as of February 28, 2026): $1,225,340 thousand total.
  • Major components: Investment in Aggregator $1,227,591k (cost $1,071,196k); Other assets $121k; liabilities/fees reduced NAV by ~ $2,372k (management fee payable $989k; servicing fee payable $317k; other liabilities $1,066k).
  • Transactional NAV per unit by class (Feb 28, 2026):
    • Class R-I: $30.76 (23,829,804 units; $733,018k)
    • Class R-S: $30.56 (14,559,843 units; $444,961k)
    • Class R-D: $30.69 (267,087 units; $8,197k)
    • Class F: $31.70 (1,235,417 units; $39,164k)
• Accounting/valuation notes: Transactional NAV is used to set transaction prices and is based on month‑end investment values per the Fund’s board‑approved valuation policy. Organizational and offering expenses advanced by the manager will reduce Transactional NAV ratably over 60 months beginning June 2026; servicing fees are recognized monthly. Transactional NAV may differ from GAAP NAV.

Why It Matters

• The filing documents a sizable private issuance ($132.6M for the Fund; ~$149M for the Fund Complex) that increases outstanding units and provides current pricing via Transactional NAV used for buying/selling units in the private offering.
• Transactional NAV is the price-reference for transactions and may differ from GAAP net asset value; investors should note the per‑class NAVs, fee treatments (servicing and organizational expenses), and that certain feeder holdings and tax‑sensitive vehicles are included in the reported totals.