04:02 PM EDT, 05/15/2024 (MT Newswires) -- TPG (TPG) has entered into a $1.5 billion partnership with Hassana Investment to pursue global climate investment opportunities, the companies said Wednesday.

TPG's partnership with Hassana, which manages the investments of Saudi Arabia's General Organization for Social Insurance, is via its TPG Rise Climate investment platform.

The partnership includes a "substantial anchor commitment" to TPG Rise Climate's new Transition Infrastructure fund, according to a joint statement.

TPG shares rose 3% in recent trading.

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