TPG has raised $1.25 billion for its Global South Initiative strategy.

The strategy has been launched in partnership with Alterra and is part of TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform. It will make private equity climate-related investments in the Global South with investments in the fund coming from institutional investors in Asia and North America.

Jim Coulter, TPG Executive Chairman and a Managing Partner of TPG Rise Climate, said, “GSI combines the power of the global TPG platform and the leadership of the TPG Rise Climate franchise to amplify the effects of catalytic capital. As heads of state and members of the global climate community gather in New York, there will be intense focus on driving tangible solutions for financing the new climate economy, particularly across the Global South. We are encouraged by the initial pace of activity and client engagement around a first-of-its-kind strategy for our industry and expect that pace to continue, as we anticipate significant additional capital commitments in the coming two quarters. We look forward to activating our GSI strategy as early as the fourth quarter of this year and are grateful for ALTÉRRA’s continued partnership in spearheading this important initiative.”

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