Binyamin Ali
The investment manager has created the new role to support its ambition of creating a global platform of natural capital strategies.
The vehicle received a £50m commitment from the South Yorkshire Pensions Authority to hit the fundraising milestone.
TPG subsidiary Rubicon Carbon has a pre-existing partnership with project developer Imperative Global to market $500m of its carbon projects.
The firm has made early-stage investments in agricultural supply chain start-ups across Europe.
The chairman says forestry ‘could be the infrastructure of tomorrow’ and that Australia’s superfunds would do well to make their move sooner rather than later.
The firm manages a 306,000ha portfolio that is regeneratively managed and sequestered 100,000 tonnes of CO2 while emitting 30,400 tonnes.
The firm has followed up its inaugural $423m fund with a successor that will continue its food and consumer strategy.
The salsa and tortilla chip business becomes the firm’s second acquisition since it closed its $425m debut fund.
The early-stage venture capital strategy was launched in December 2021 and has amassed a portfolio of more than 20 companies.
The investment was made into the firm’s tenth iteration of its secondaries timberland fund, which has a $1bn target and had raised $635m by January 2024.