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TPG Capital unit invests US$120m in self-storage firm

LifeStorage deal comes amid rising investor interest in industry that generated US$24b of revenue last year

Published Wed, Oct 8, 2014 · 09:50 PM
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Seattle

TPG Capital's real estate unit invested US$120 million in a company started by a former Public Storage executive, its first foray into the high-growth self-storage industry.

LifeStorage, based in Roseville, California, will use the money to buy properties in the 50 largest US metropolitan areas, chief executive officer Mark Good said, declining to specify terms of the private-equity firm's investment.

Mr Good founded LifeStorage in 2011 after working as chief operating officer of Public Storage, the world's biggest …

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