June capital intake outpaced the prior month by roughly a quarter, while portfolio gains lifted per-unit values across every share class.

June 25, 2026

TPG Private Equity Opportunities, L.P., the Fort Worth-based private equity vehicle operating as T-POP, raised approximately $99.2 million through the sale of unregistered limited partnership units in its ongoing continuous private offering. The transactions settled on June 1, 2026, and mark a meaningful step up from the roughly $78.8 million the Fund raised one month earlier, as reported earlier.

Investor demand was concentrated in the Fund’s largest class:

• Class I — 1,820,051 units sold for about $59.5 million
• Class S — 969,005 units totaling roughly $31.4 million
• Class F — 241,833 units for approximately $8.2 million, sold to employees of affiliates of the Fund’s general partner, TPG Private Equity Opportunities GenPar, L.P.

As in prior months, the units were issued under the registration exemptions of Section 4(a)(2) of the Securities Act of 1933 and Regulation D. A portion of the issuance flowed through TPG Private Equity Opportunities (TE), L.P., a Delaware feeder vehicle structured for tax-exempt and non-U.S. investors that holds substantially all of its assets indirectly in the Fund’s Class R-I units. The feeder received 1,040,576 Class I units and 4,402 Class F units in connection with its own issuance of feeder-class interests to third-party investors.

Across the broader T-POP Fund Complex — which includes the feeder vehicle, parallel investment entities, and the Fund itself, all investing substantially all capital into T-POP US Aggregator (CYM), L.P. — interests totaling approximately $119.1 million were issued on June 1. That complex-wide total likewise exceeded the prior month’s roughly $84.9 million.

Net Asset Value Snapshot

The Fund reported its Transactional Net Asset Value as of May 31, 2026, the metric used to price unit transactions and which can differ from net asset value computed under U.S. generally accepted accounting principles.

The Fund’s investment in the Aggregator was valued at approximately $1.63 billion against a cost basis of about $1.37 billion — implying roughly $266.1 million in unrealized appreciation, a derived figure calculated from the stated fair value and cost. After deducting an accrued performance participation allocation of $11.4 million, management fees payable of $1.2 million, servicing fees of $411,000, and other liabilities of $946,000, total Transactional NAV stood at approximately $1.619 billion — an increase of roughly $133 million from the $1.486 billion reported a month earlier.

The accrued performance participation allocation more than doubled month over month, rising from $4.6 million to $11.4 million, consistent with the stronger portfolio appreciation reflected in the period.

Total units outstanding reached approximately 49.4 million across four classes, with per-unit values rising across the board:

• Class R-I — $32.71 per unit (up from $31.62)
• Class R-S — $32.43 per unit (from $31.37)
• Class R-D — $32.62 per unit (from $31.55)
• Class F — $34.07 per unit (from $32.77)

The variation between classes continues to reflect differing fee arrangements, particularly servicing fees applied to Class R-S and Class R-D units.

The Fund reiterated that organizational and offering expenses advanced by its investment manager will reduce Transactional NAV ratably over a 60-month period beginning in June 2026.

The report was signed by Matt White, Chief Financial Officer, and dated June 24, 2026.