Global private investment firm TPG has completed a third round of fundraising for its sixth Asian Fund with US$2.9 billion in capital commitments. The fund has already invested in three companies, including China-based broadcaster Phoenix Satellite Television Holdings. Separately, the middle market and growth equity platform of TPG, TPG Growth, has formed a US$100 million joint venture with India-based internet company Smile Group to build businesses in Asia-Pacific, the Middle East and Africa. TPG Growth and Smile will co-invest through the joint venture, which operates under the name Katalyzers, helping businesses to expand across Asia and other emerging markets.