TPG buys Aurora Energy Research

TPG Rise Climate has acquired UK-based Aurora Energy Research, expanding the US investment firm’s climate analytics portfolio. The deal follows reports earlier this year that Aurora’s private equity owner was exploring a GBP 1 billion ($1.35 billion) sale.

TPG Rise Climate, the climate investment platform of US-based alternative asset manager TPG (formerly known as Texas Pacific Group), has acquired Aurora Energy Research, a UK market research and consulting firm.

Closing is expected in the second half of 2025, subject to customary regulatory approvals and closing conditions.

“As part of the transaction, the firm's existing private equity backers, CGE Partners, 22C Capital, and Aurora CEO John Feddersen, will make significant reinvestments in the business,” said the company in a statement. “By leveraging TPG's extensive resources and expertise, Aurora will be well positioned to enter its next phase of growth and innovation, while continuing to deliver significant impact and directly advancing the mission and investment objectives of both the firm and the Rise Climate Fund.”

In late April 2025, Bloomberg reported that London-based  private equity firm CGE Partners was considering a GBP 1 billion sale of Aurora Energy Research, which it acquired in 2020.

In a similar move earlier this year, BlackRock said it acquired Preqin, an independent provider of private markets data.

In 2020, TPG launched Matrix in Spain through its impact fund, The Rise Fund, following its acquisition of 1 GW of Trina solar projects across Spain, Chile, Colombia, and Mexico.