TPG Announces $7.3 Billion Final Closure of Rise Climate

Leading asset management firm TPG announced the $7.3 billion final closure of TPG Rise Climate, the company’s climate investing strategy of its global impact investing platform TPG Rise.

Incepted in 2021, TPG Rise Climate has been rapidly deploying capital through growth-stage investments in new-age climate solutions. Notable investments include funding leading solar tracking company Nextracker, creating North America’s largest marketer and originator of carbon and environmental credits via the merger of Bluesource and Element Markets, and forming a pioneering partnership with Tata Motors to pave the way for electrification of passenger mobility in India.

After the close, TPG Rise Climate has reached its hard cap, blending a unique combination of capital from some of the world’s largest institutional investors and a diverse set of industry-leading global companies.

“We continue to be inspired by the climate innovation we are seeing across sectors and around the world. The climate crisis is accelerating and we are proud to be confronting it with substantial capital and action,” said Jim Coulter, Founding Partner, TPG, and Managing Partner, TPG Rise Climate. “As technology opens new markets and methods in everything from batteries to biogas and solar to sequestration, we are energized by the decarbonization opportunities ahead. With every investment, we remain committed to Rise’s mission of delivering exceptional returns alongside meaningful impact.”

As part of the $14 billion TPG Rise global impact investing platform, TPG Rise Climate leverages the abilities of Y Analytics, TPG’s public benefit LLC committed to understanding, valuing, and managing the social and environmental impact of its investments.

28 of the world’s leading corporations will send representatives to convene at the first TPG Rise Climate Coalition meeting next month to discuss practical insights and progress on decarbonization plans.

TPG Rise Climate is established on the foundation of TPG and benefits from more than 500 investors and business builders, spanning 12 global offices.

Kirkland & Ellis served as fund counsel for TPGwith regards to this fundraising.