Wednesday 13 January 2021

Texas-based global impact investing platform The Rise Fund has acquired a majority stake in Houston-based renewable gas and environmental commodities marketer Element Markets, LLC, the company said.

Terms of the transaction were not disclosed.

Element Market and The Rise Fund expect to expand into new environmental markets and accelerate efforts to support a decarbonising economy.

The acquisition of Element Markets represents The Rise Fund's second investment in the climate transformation and renewable energy space within the past six months.

These recent transactions add to The Rise Fund's growing portfolio of climate and sustainability focussed investments including CLEAResult, the largest provider of energy efficiency and demand response solutions in North America; Fourth Partner Energy, India's leading developer of distributed solar solutions; Wilderness Holdings, an ecotourism group using responsible tourism to build sustainable conservation economies in Africa; and Green Monday, Asia's plant-based food leader.

Kirkland and Ellis LLP served as legal counsel to The Rise Fund in relation to the transaction and Eversheds Sutherland served as legal counsel to Element Markets.

Element Markets, LLC uses differentiated environmental and market expertise to play a leading role in markets for low carbon fuel standard (LCFS) credits, renewable identification numbers (RINs), emission credits, and carbon credits.

The Rise Fund, managed by alternative asset firm TPG with more than USD 5bn in assets under management across its platform. The Rise Fund offers investment resources, business-building skills, measurement and a global network to help portfolio companies accelerate growth and impact.