Wait ’til next year: TPG plans 2013 fundraise

August 14, 2012, 11:51 PM UTC

FORTUNE — Texas Pacific Group plans to begin raising its next mega-fund sometime next year, Fortune has learned.

The private equity giant currently is investing out of a $17.8 billion vehicle raised in early 2008, which was was around 60% called through the end of 2011 (according to CalPERS). Since then, it has announced such deals as the $1.9 billion take-private acquisition of Par Pharmaceuticals Inc. (PRX) and a $200 million investment into Parkway Properties Inc. (PKY).

“There is still lots of dry powder yet, so there is no rush,” says a source familiar with the situation. “The current fund was raised just as the financial crisis hit, which meant that deal-making was a bit slower than usual at the beginning.”

Prior to raising Fund VI in 2008, TPG had raised $15.4 billion for its fifth fund in 2007 and $5.8 billion for its fourth fund in 2003.

No word yet on how much money TPG will seek, although peers like The Blackstone Group (BX), The Carlyle Group (CG) and Kohlberg Kravis Roberts & Co. (KKR) have targeted smaller figures for post-crisis funds than for those raised between 2005 and 2008 (Carlyle and KKR remain in market).

TPG also manages several other types of funds, including growth capital and Asia-focused vehicles.

A firm spokesman declined to comment.

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