TPG rolls out $10bn climate fund and has already invested nearly a third
The private equity firm's Rise Climate II backs clean power, low-carbon transport and industrial decarbonisation, with $1.5bn from the UAE's ALTÉRRA for developing markets
TPG has closed a $10 billion climate-focused fund, Rise Climate II, and already invested nearly a third of it, executive chairman Jim Coulter told Semafor. The fund invests in clean power, energy services and technology, low-carbon transportation and industrial decarbonisation in the US and Europe, as well as emerging markets in South Asia and elsewhere. TPG also reported a 33% boost in third-quarter net income.