ALTÉRRA commits $1.5bln to TPG rise climate’s $10bln next generation private equity funds

ALTÉRRA commits $1.5bln to TPG rise climate’s $10bln next generation private equity funds

Commitment accelerates transition to the low carbon economy and includes:

US$500 million of return enhancing capital from ALTÉRRA TRANSFORMATION to enable creation of US$2.5 billion Global South Initiative with TPG

US$1 billion from ALTÉRRA ACCELERATION to TPG’s Rise Climate II, pursuing investments to enable carbon aversion at scale



DUBAI, United Arab Emirates & SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE/AETOSWire)-- TPG, a leading global alternative asset management firm, and ALTÉRRA, the world’s largest private investment vehicle for climate change action launched at the World Climate Action Summit at COP28, today announced an aggregate US$1.5 billion commitment to the next generation of TPG Rise Climate private equity funds, including its new Global South Initiative.

The Global South Initiative will be managed by TPG and is purpose built to accelerate and attract institutional capital at scale by offering return enhancement to encourage private equity investments in high growth climate opportunities in the Global South. The initiative will receive up to US$500 million in innovative catalytic capital from ALTÉRRA TRANSFORMATION. In addition, TPG Rise Climate will channel approximately US$1 billion from its TPG Rise Climate II fund to co-invest alongside the initiative. TPG will also raise additional