Private equity firm TPG has set a $7bn upper limit on fundraising for its debut climate-related investment pool to back companies that are expected to have a positive impact on the environment by reducing carbon emissions, according to public documents prepared for the New Jersey State Investment Council.
The firm aims to raise at least $5bn for the fund, which has a mandate to produce positive impacts through its investments.
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The Fort Worth, Texas-based firm aims to raise at least $5bn for its TPG Rise Climate LP vehicle, and the New Jersey council committed $200m toward that goal at a meeting on Wednesday.
Source: Wall Street Journal
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