Climate is not a charity case. It is the largest reallocation of capital in human history. Trillions of dollars are moving and we intend to be on the right side of that flow.
We raised $7 billion for a climate fund inside a PE firm. Five years ago people would have laughed. Now every major firm is copying us.
Impact investing used to mean accepting lower returns. We reject that premise entirely. The best impact investments should generate the best returns.
The energy transition is not a 10-year trend. It is a 50-year transformation. We invest on that timescale.
Nextracker went from a TPG Rise Climate investment to a successful IPO. That is the model — real companies, real returns, real impact.
David Bonderman was the dealmaker. I was the builder. Every great firm needs both.