RIYADH, Saudi Arabia & SAN FRANCISCO--(BUSINESS WIRE)--TPG (NASDAQ: TPG), a leading global alternative asset management firm, and Hassana Investment Company, the investment manager of the Kingdom of Saudi Arabia's General Organization for Social Insurance (GOSI), today announced a $1.5 billion strategic partnership in the TPG Rise Climate platform. The partnership includes a substantial anchor commitment to TPG Rise Climate’s new Transition Infrastructure fund.
Hassana and TPG share a common objective of capitalizing on global climate investment opportunities, underscoring the Kingdom’s evolution as a growing source of partnership and investment opportunities within the space.
Jon Winkelried, CEO of TPG, expressed TPG’s excitement about the partnership, stating: “There is an incredibly strong alignment between Hassana’s goals and the unique set of strategies we’ve developed across TPG. We look forward to working closely with Hassana, known for its collaborative approach and long-term investment horizon.” He added: “This partnership demonstrates TPG and Hassana’s shared commitment to leading the evolution of the climate investing space.”
“Large and sophisticated investors like Hassana are essential to meeting the growing capital demands of the new climate economy. With this commitment, we are driving the TPG Rise Climate platform's evolution to continue delivering differentiated capital and capabilities across assets globally and in the Kingdom,” said Jim Coulter, TPG Founding Partner and Managing Partner of TPG Rise Climate.
Hani Aljehani, CIO International Markets of Hassana, highlighted the importance of partnering with TPG Rise Climate, emphasizing the platform’s global ecosystem and holistic approach to investing across the climate sector. Aljehani stated: “TPG Rise Climate’s position as an established impact-driven platform with a track record of delivering strong returns makes TPG an ideal partner for Hassana.”
He added: “It demonstrates Hassana’s confidence in TPG’s expertise and the value it brings to climate investing, recognized as a leader in impact investments across various asset classes and geographies.”
As part of TPG’s $19 billion impact platform, TPG Rise Climate deploys substantial capital across the climate sector, in areas including energy transition, green mobility, sustainable fuels, sustainable products and materials, and carbon solutions. In addition to its successful private equity funds, TPG Rise Climate’s new Transition Infrastructure strategy offers clients a value-added risk-return profile between core infrastructure and private equity, further enhancing its comprehensive climate investment approach.
This collaboration between TPG and Hassana signifies the importance of international and local partnerships in addressing global climate challenges. By combining TPG's deep investing expertise and global capabilities with Hassana's local network and expertise, the two firms are well-positioned to drive positive change and capitalize on climate investment opportunities across borders.
About Hassana Investment Company:
As the investment manager of the General Organization for Social Insurance (GOSI), Hassana invests on behalf of all Saudi generations for their future pensions.
With over SAR 1.2 trillion (USD 320 billion) of assets under management, Hassana is entrusted with creating long-term value and delivering the best investment outcomes across assets and geographies by applying strategic vigor and leveraging its scale to fulfill its vision – today and for the future.
About TPG:
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $224 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique approach is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
About TPG Rise Climate:
TPG Rise Climate is the dedicated climate investing strategy of TPG’s $19 billion global impact investing platform TPG Rise. TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals, the strategic relationships developed across TPG’s existing portfolio of climate-focused companies, and a global network of executives and advisors. The fund takes a broad-based sector approach to investment types, from growth equity to value-added infrastructure, and focuses on climate solutions in the following thematic areas: clean electrons, clean molecules and materials, and negative emissions. Jim Coulter, TPG Founding Partner and Executive Chairman, serves as Managing Partner of TPG Rise Climate. Former U.S. Treasury Secretary Hank Paulson serves as TPG Rise Climate’s Executive Chairman.
For more information: www.therisefund.com/tpgriseclimate
