TPG Rise Combines Element Markets and Bluesource to Form Global Decarbonization Platform

The Rise Fund Acquires Majority Stake in Element Markets

January 12, 2021

Energy

The Rise Fund, the impact investing platform managed by TPG, acquired a majority stake in Element Markets, a Houston-based marketer of renewable natural gas (RNG) and environmental commodities. The investment (terms undisclosed) will support Element Markets' expansion into additional environmental markets and scale its carbon, RIN and emissions-credit trading and compliance services; Mike Stone and Marc Mezvinsky will join Element's board.

TPG Rise Climate Acquires Majority Stake in Aurora Energy Research

June 4, 2025

Data & Analytics

TPG Rise Climate (TPG) has agreed to acquire a majority stake in Aurora Energy Research from CGE Partners, with CGE reinvesting alongside 22C Capital and Aurora management. Aurora — an Oxford-based energy market analytics and software platform serving utilities, governments and investors — will scale its data, analytics and software capabilities globally with TPG’s climate investing resources and 22C’s operational support.

TPG Rise Climate Acquires Majority Stake in A-Gas from KKR

August 17, 2023

Environmental Services

TPG Rise Climate, the climate investing strategy of TPG, has agreed to acquire a majority stake in A-Gas, the global refrigerant gas recovery and reclamation specialist. KKR will remain a significant minority shareholder and minority investor LDC will fully exit; the transaction is expected to close by the end of 2023 subject to customary approvals.

TPG Rise Climate Acquires Altus Power

February 6, 2025

Energy

TPG, through its TPG Rise Climate Transition Infrastructure strategy, acquired Altus Power, Inc. in an all-cash transaction at $5.00 per share, valuing the company at approximately $2.2 billion including outstanding debt. The deal—first announced on February 6, 2025—closed in April 2025, taking Altus Power private and positioning the company to scale its commercial-scale solar, energy storage and charging solutions.

TPG Rise Climate and GIC to Acquire Techem Group for €6.7 billion

October 1, 2024

Energy

TPG Rise Climate (lead investor) and GIC (minority investor) signed an agreement to acquire Techem Group from majority owner Partners Group and co-investors CDPQ and Ontario Teachers' Pension Plan for approximately €6.7 billion. The deal, payable in two instalments, is expected to close in the first half of 2025 and will support Techem's expansion of its digital energy services platform across Europe and beyond.

TPG Growth and The Rise Fund Acquire Majority Stake in Greenhouse

January 14, 2021

Software

TPG Growth and The Rise Fund have signed a definitive agreement to become majority investors in Greenhouse, the hiring software provider. The investment will support product innovation, market expansion, and enhancements to Greenhouse’s diversity, equity and inclusion hiring solutions; financial terms were not disclosed.