A Message from Co-Presidents Angela Schwarz and Randy Lack Regarding the Rise Fund Transaction
We are pleased to announce that The Rise Fund, a global impact investing fund managed by alternative asset firm TPG, has acquired a majority stake in Element Markets. This acquisition will provide Element Markets with the scale and resources to grow and expand into new markets while enabling us to continue delivering best-in-class solutions to our valued clients. We are committed to continue building Element Markets and the management and staff of Element Markets will all remain in place as we will continue as a standalone business powered by The Rise Fund.
The Rise Fund is the world’s largest global impact platform committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns. With more than $5 billion in assets under management across its platform, The Rise Fund works with growth-stage, high potential, mission-driven companies that have the power to change the world. Headquartered in San Francisco, The Rise Fund was founded in 2016 by TPG in partnership with Bono and Jeff Skoll and offers deep expertise in business solutions to help achieve the United Nations’ Sustainable Development Goals. As part of TPG, The Rise Fund offers investment resources, business-building skills, rigorous measurement, and a global network to help portfolio companies accelerate growth and impact. Thanks to clients like you, Element has experienced explosive growth over the past five years and with The Rise Fund supporting us we could not be more excited about our future in renewable natural gas, carbon, emissions, low carbon fuels marketplace.
The day-to-day operations will continue without interruption and you will continue interacting with your key contacts just as you always have. In fact, by having access to The Rise Fund’s network of resources and experience partnering with mission-driven companies like ours, Element Markets will be able to further strengthen the already best-in-class solutions we offer our clients and partners as we grow.
Element Markets welcomes Mike Stone (CIO of TPG Rise) and Marc Mezvinsky (Business Unit Partner within TPG) to the Board of Directors. We would also like to thank and celebrate our departing board members Mark Lerdal, Stephen Schaefer, Paul Argyropoulos, and Keith Little for their service on our board and the leadership they provided to the company.
Most of all we would like to express our deepest debt of gratitude to all of our clients and partners for your trust and support in Element Markets, and we look forward to continuing our dedication as a service provider and to expand our role in the fight against climate change. Our commitment to you is that we are only getting started and we will maintain the same quality of partnership and focus that you have received to date. If you have any questions, please do not hesitate to reach out.
Angela Schwarz and Randy Lack