TPG’s second Rise Fund has raised more than $1.7 billion seven months after the exit of co-founder Bill McGlashan, one of several financiers charged for participating in an illegal college admissions scheme earlier this year. 

Rise Fund II, which reached a first close of $1.2 billion earlier this year, now has about $1.72 billion in commitments, according to an October 21 filing with the U.S. Securities and Exchange Commission. The firm is currently planning to raise $2.5 billion in total for the impact investment fund, according to a person familiar with the matter.

“The support of new and existing investors has helped us build a market-leading impact investment platform that aims to drive positive social and environmental impact alongside business performance,” a TPG spokesperson said in a statement. “Thanks to partnership with word-class entrepreneurs, this platform now includes a diverse portfolio of more than 25 companies operating across more than 20 countries. We remain focused on the opportunity ahead and this momentum further strengthens our ability to deliver positive impact.”

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TPG was a few months into fundraising for Rise Fund II when McGlashan was accused of bribing a University of Southern California official to facilitate his son’s admission to the school as a recruited athlete. The charges were followed by McGlashan’s near-immediate departure from TPG, followed by the installation of TPG co-CEO Jim Coulter as managing partner for the Rise Fund and TPG Growth, which had also been led by McGlashan.

Following McGlashan’s exit, investors who had already committed to Rise Fund II were given the option to “reaffirm their commitments,” as Institutional Investor reported at the time. A person familiar with the matter said that all of those investors chose to stay committed to the fund.

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Since then, TPG has announced additional leadership for the Rise funds, appointing Maya Chorengel and Steve Ellis to serve as co-managing partners alongside Coulter in June.

The second Rise Fund’s current $2.5 billion target is about $500 million below its previously reported target of $3 billion. According to a person familiar with the fund, the target was lowered after TPG took over a $500 million health fund from the Abraaj Group.