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UBS clients put $325 million into TPG Growth’s Rise Fund

UBS clients have put $325 million into TPG Growth’s Rise Fund.

The world’s largest private bank raised the sum from private-wealth clients looking for profitable ways to tackle global challenges like energy, infrastructure, education and agriculture.

Click for more from 2030 Finance

The Swiss bank has pledged to raise $5 billion for impact investments aligned with the UN’s Sustainable Development Goals. The Rise Fund is aiming to raise $2 billion, which would make it one of the world’s largest private equity funds taking aim at the 2030 global goals.

“The interest in impact investing and these kind of opportunities among the clients we speak to actually far exceeds the supply of the available opportunities,” said UBS’s Simon Smiles, chief investment officer for ultra-high net worth clients. Added UBS’s Christian Wiesendanger, “This Rise Fund is one of many to come.”

UBS said a third of the funds raised were from investors in North America; the remaining came from international clients.

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