Hank Paulson's TPG Climate Fund Raises $5.4 Billion
The revolving door between private sector Wall Street jobs and the Treasury and/or Fed continues...
Today's installment is brought to you by former Treasury Secretary Hank Paulson, who is now officially executive chairman of The TPG Rise Climate fund.
Just 6 months after Hank Paulson began his personal roadshow to try and drum up investor capital, TPG's inaugural fund, focused on its "climate investing strategy", has raised $5.4 billion from high profile investors like Allstate and Hartford Financial, Reuters reported this week. The fund's investor base also includes the Ontario Teachers' Pension Plan Board, Saudi Arabia's Public Investment Fund and France's AXA, the report notes.
TPG says the fund is "designed to expand the scope of commercially viable climate technologies".
Recall, back in January 2021 we noted that Paulson was returning to Wall Street to run the new climate-focused investment fund. It marked Paulson's first return to the private sector since leaving Goldman in 2006.