TPG Rise Climate Fund raises $5.4Bn to support new climate solutions

TPG Rise Climate Fund, the climate investing fund of TPG’s global impact investing platform TPG Rise, has recently raised its first close of $5.4 billion, bringing together an exclusive blend of funding from some of the top institutional investors globally and over 20 leading firms to invest in entrepreneurs and businesses that are building new climate solutions all over the world.

TPG Rise Climate has put a limit of $7 billion in entire capital commitments and anticipates a final close in the fourth-quarter of 2021. The fund is a major step forward in TPG's global impact investing platform's growth and expansion.

As per sources, TPG now manages around $11 billion of its assets across TPG Rise, making it as the biggest private markets impact investing platform and a key component of its development plan. TPG Rise demonstrates the ongoing commitment of TPG in innovation, specialist capital, and strategic diversification.

The founding companies and members of the Rise Climate Coalition include ADM, Allianz, 3M, Alphabet, Honeywell, John Deere, Sumitomo Mitsui Banking Corporation, Smithfield Foods, General Motors, Apple, AXA, GE, NIKE, Michael R. Bloomberg, TD Bank Group, Bank of America, Exor, FedEx, Dow, Boeing, and Allstate.

The Rise Climate Alliance is made up of firms that have put in a lot of effort to integrate sustainability and climate action into their operations. Most of them have made significant public promises to reduce their carbon footprint.

TPG Rise Climate will use Y Analytics' approaches, such as Carbon Yield — a selection tool that incorporates scientific, economic, health, and social science studies – to calculate the tonnes of carbon dioxide equivalent emissions averted per dollar invested.

Based on TPG's platform, TPG Rise Climate has over 500 investors and company builders spread across 12 worldwide locations enabling growth-driven flywheels to deliver additional impact and performance beyond the original premise of its investments.

Source Credit - https://www.businesswire.com/news/home/20210727005569/en/TPG-Announces-5.4-Billion-First-Close-of-TPG-Rise-Climate-Fund