The investment manager of the Kingdom of Saudi Arabia鈥檚 General Organization for Social Insurance (GOSI) has anchored a new transition infrastructure fund as part of a $1.5bn commitment to funds managed by TPG鈥檚 climate investing platform.
91传媒在线 understands that GOSI鈥檚 manager Hassana Investment is committing the capital across two TPG Rise Climate funds: the private equity climate strategy TPG Rise Climate II and the new TPG Rise Climate Transition Infrastructure fund which will receive a 鈥漵ubstantial portion鈥� of the $1.5bn commitment.
The TPG Rise Climate platform deploys capital across the climate sector, in areas including energy transition, green mobility, sustainable fuels, sustainable products and materials, as well as carbon solutions.
The new transition infrastructure strategy is expected to offer clients a value-added risk-return profile between core infrastructure and private equity.
Hani Aljehani, international markets CIO at Hassana, said TPG Rise Climate鈥檚 position as an 鈥漞stablished impact-driven platform with a track record of delivering strong returns鈥� makes TPG 鈥漚n ideal partner for Hassana鈥�.
He added: 鈥淚t demonstrates Hassana鈥檚 confidence in TPG鈥檚 expertise and the value it brings to climate investing, recognised as a leader in impact investments across various asset classes and geographies.鈥�
Jon Winkelried, CEO of TPG, said: 鈥淭here is an incredibly strong alignment between Hassana鈥檚 goals and the unique set of strategies we鈥檝e developed across TPG. We look forward to working closely with Hassana, known for its collaborative approach and long-term investment horizon.鈥�
Jim Coulter, TPG founding partner and managing partner of TPG Rise Climate, said: 鈥淟arge and sophisticated investors like Hassana are essential to meeting the growing capital demands of the new climate economy.
鈥漌ith this commitment, we are driving the TPG Rise Climate platform鈥檚 evolution to continue delivering differentiated capital and capabilities across assets globally and in the Kingdom.鈥�
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