By Mellissa Karsh
TPG has brought in $5.4 billion for its climate investing strategy, making it one of the biggest sustainability-focused funds raised so far as firms push further into green strategies.
The TPG Rise Climate fund, launched earlier this year, has set a hard cap, or maximum fund size, of $7 billion and expects to hold a final close in the fourth quarter, according to a statement Tuesday. TPG added former Treasury Secretary Hank Paulson earlier this year as executive chairman of the fund, joining firm co-founder Jim Coulter, who is its managing partner. It will focus on key areas including clean energy, enabling solutions, decarbonized transport, greening industrials and agriculture and natural solutions.
Read full article.