TPG Private Equity Opportunities Reports Unregistered Unit Sales, NAV

What Happened

• TPG Private Equity Opportunities, L.P. (T-POP) filed an 8‑K disclosing that on September 1, 2026 it sold unregistered limited partnership units in a continuous private offering for aggregate consideration of $102.8 million. The sales were exempt from registration under Section 4(a)(2) and Regulation D.
• Units sold: Class I — 2,041,663 units for $70,797,707; Class S — 932,199 units for $31,979,592. Of the Class I units, 840,215 were issued to TPG Private Equity Opportunities (TE), L.P. ("Feeder TE") to support its issuance of feeder-class units to certain tax‑sensitive investors.
• The broader T-POP Fund Complex (including the Fund and parallel entities) issued interests on September 1, 2026 for aggregate consideration of approximately $146.7 million.

Key Details

• Unregistered sales (Sept 1, 2026): Total = $102.8M; Class I = 2,041,663 units ($70.8M); Class S = 932,199 units ($32.0M). Feeder TE received 840,215 Class I units.
• Transactional Net Asset Value (as of Aug 31, 2026): Total Transactional NAV = $1,992,515 (amounts in thousands) — about $1.993 billion. Major component: Investment in the Aggregator valued at $2,019,540 (cost $1,625,721) (all $ in thousands).
• Transactional NAV per unit (Aug 31, 2026): overall units = 57,337,588. Examples: Class I = $34.68 (20,794,443 units); Class S = $34.31 (2,370,506 units); Class R‑S = $34.34 (17,723,212 units). Note: Class I per‑unit NAV excludes Feeder TE specific items.
• Valuation and fees: Organizational/offering expenses advanced by the manager will be recognized as a reduction to Transactional NAV ratably over 60 months beginning June 2026; servicing fees are recognized monthly. Transactional NAV may differ from GAAP NAV.

Why It Matters

• These filings affect investors by documenting new private issuance activity (adds ~ $102.8M of units) and by providing the Transactional NAV used to price secondary transactions in the Fund’s units. Transactional NAV is the practical pricing metric for unit trades and reflects current valuation policies and certain fee treatments that can differ from GAAP NAV.
• The disclosures also show the Fund’s exposure to its Aggregator vehicle (valued at ~$2.02B on Aug 31, 2026) and specify fee recognition policies (organizational/offering and servicing fees) that reduce Transactional NAV over time — important for understanding per‑unit valuation and dilution/lift from new issuances.