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Private equity firm TPG raises $5.4 bln for climate fund

TPG has raised $5.4 billion for its inaugural fund under its climate investing strategy from a number of high-profile investors including Allstate Corp and Hartford Financial, the private equity firm said on Tuesday.

July 27 (Reuters) - TPG has raised $5.4 billion for its inaugural fund under its climate investing strategy from a number of high-profile investors including Allstate Corp ALL.N and Hartford Financial HIG.N, the private equity firm said on Tuesday.

The TPG Rise Climate, which was launched in early 2021, now manages $11 billion of assets, the company said.

Hank Paulson, a former U.S. Treasury Secretary, is the executive chairman of the fund, while co-founder Jim Coulter is the managing partner.

TPG said the fund is designed to expand the scope of commercially viable climate technologies and its investor base includes Ontario Teachers' Pension Plan Board, Saudi Arabia's Public Investment Fund (PIF) and France's AXA AXAF.PA.

TPG, which has more than $100 billion in assets under management, is evaluating a public listing, the Wall Street Journal reported last month.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)

((Niket.Nishant@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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