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Laxman Pai, Opalesque Asia: Saudi Arabia's main pension fund is set to make a substantial anchor commitment to a new TPG infrastructure fund as part of a $1.5 billion strategic partnership.
The global alternative money management firm and Hassana Investment Co. - the manager of the kingdom's 1.2 trillion Saudi riyal ($319.8 billion) General Organization for Social Insurance (GOSI), Riyadh - formed a strategic partnership in the TPG Rise Climate platform, said a joint statement.
The partnership includes a substantial anchor commitment to TPG Rise Climate's new Transition Infrastructure fund.
Hassana has become an increasingly prominent global investor since Saudi Arabia merged two of its pension and insurance funds in 2021. It signed a memorandum of understanding with BlackRock in 2022 to promote and develop an infrastructure strategy.
According to the release, Hassana and TPG share a common objective of capitalizing on global climate investment opportunities, underscoring the Kingdom's evolution as a growing source of partnership and investment opportunities within the space.
Jon Winkelried, CEO of TPG said: "We look forward to working closely with Hassana, known for its collaborative approach and long-term investment horizon. This partnership demonstrates TPG and Hassana's shared commitment to leading the evolution of the climate investing space."
"Large and sophisticated investors like Hassana are essential to meeting the growing capital dema...................... To view our full article Click here
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