TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, has held the first close of USD5.4 billion in subscriptions to its inaugural fund.
With the fund’s first close, TPG Rise Climate is bringing together a unique blend of capital from some of the world’s largest institutional investors and over 20 leading companies to invest in the entrepreneurs and businesses building climate solutions around the world. TPG Rise Climate has set a hard cap of $7 billion in total capital commitments and expects to hold a final close in the fourth quarter of 2021.
TPG Rise Climate represents an important step in the growth and evolution of TPG’s global impact investing platform. The TPG Rise platform reflects the firm’s continued focus on innovation, specialised capital, and strategy diversification. With today’s announcement, TPG now manages over USD11 billion of assets across TPG Rise, further solidifying it as the world’s largest private markets impact investing platform and a core pillar of TPG’s growth strategy.
“It’s a time of both peril and possibility. Climate change is a societal risk but also a generational investment opportunity,” says Coulter. “Leveraging our deep experience in impact investing, we believe TPG Rise Climate can play a positive role in catalysing capital to combat climate change. The partnership of leading investment institutions and major corporations funding TPG Rise Climate signals a growing business community commitment to engaging in this existential issue.”
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