Los Angeles City Employees' Retirement System (LACERS)

About the fund

TPG Rise Climate Fund II is a global private equity vehicle focused on climate investments, currently in active fundraising with $6.2 billion committed toward a target of $8-10 billion. The fund represents TPG's second dedicated climate strategy, following its predecessor which closed at $7.3 billion in 2022. It pursues investments in decarbonization and energy transition opportunities across global markets, as evidenced by its initial portfolio companies including SICIT Group and Aurora Energy Research. The fund primarily serves institutional investors seeking exposure to climate-focused private equity, maintaining a diversified approach to energy and electrification investments. With $5.8 billion already closed, the fund continues to build its portfolio while working toward its final close.