Big private funds with specific investment goals may be the wave of the future, according to TPG's James Coulter.
At Riyadh's Future Investment Initiative conference, Coulter told CNBC's "Squawk Box " on Wednesday that specific ideas are winning out over more generalist funds. He pointed to Masayoshi Son's $100 billion technology-focused Vision Fund.
"The general direction that investors are going in these days is a little bit away from generalist ideas and towards more specific ideas," he said.
TPG recently raised $2 billion for The Rise Fund, the biggest impact-investing fund to date. It is run by TPG's Bill McGlashan and some big profile board members such as the musician/philanthropist Bono, Richard Branson, Reid Hoffman and TPG's Coulter and David Bonderman. The fund's goal is to invest in health care, education and clean energy projects.
Coulter is a founding partner of TPG, which manages over $73 billion with investments and operational teams in 16 offices around the world, according to its website.