TPG taps Montag, Finucane to launch carbon-credit company
Private-equity firm TPG Inc. has tapped Wall Street heavyweights Tom Montag and Anne Finucane to lead a new carbon-credit business it hopes will improve access to the emissions offset market.
Why it matters: TPG Rise Climate is investing $300 million into a new company called Rubicon Carbon, which seeks to simplify the way buyers invest in carbon credits.
Details: Rubicon seeks to raise a total of $1 billion, the company announced.
- Montag, Rubicon's CEO, is a Goldman Sachs veteran who retired last year as COO at Bank of America. Finucane, who retired as BofA's vice chair last year, will be Rubicon's chairwoman.
Of note: Rubicon is working with platform partners Anew Climate, Pixxel, Planet Labs PBC and Rialto Markets. Rubicon said it's also formed a coalition of companies as part of its launch.