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Private Equity

TPG to close impact investing Rise Fund at $2 billion

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The Rise Fund, a private equity fund with an impact investing focus managed by TPG, reached its $2 billion hard cap, said a TPG spokeswoman in an email.

TPG expects to "hold a final close imminently," the spokeswoman said. The global growth equity and middle-market buyout fund had a $1.5 billion fundraising target.

Investors include the $197.1 billion New York State Common Retirement Fund, Albany; the 300.6 billion Swedish kronor ($36.8 billion) AP2, Gothenburg, Sweden; and the $22.1 billion New Mexico State Investment Council, Santa Fe.