TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform, recently raised $1.25 billion in initial capital commitments for its new Global South Initiative (GSI) strategy, which was launched in partnership with ALTÉRRA, the world's largest private investment vehicle for climate change action.
TPG and ALTÉRRA launched GSI at COP28 in Dubai in November 2023, with a target of $2.5 billion in capital commitments. GSI is designed to accelerate and attract institutional capital by offering return enhancement to encourage private equity investments in high-growth climate opportunities across the Global South.
The initial $1.25 billion includes commitments from ALTÉRRA, which activate as TPG raises additional capital, TPG Rise Climate II, and third-party capital raised through a fund dedicated to the region. TPG and ALTÉRRA are now joined in GSI by a broad and diverse set of institutional investors from across Asia and North America.
