TPG's The Rise Fund buys majority stake in renewable natural gas marketer

The Rise Fund, TPG Capital LP's impact investing platform, paid an undisclosed sum to take a majority stake in Element Markets LLC.

The Rise Fund Chief Investment Officer Mike Stone and TPG business unit partner Marc Mezvinsky will serve on Element's board as part of the deal.

Houston-based Element is a renewable natural gas marketing and environmental commodities company in North America. It plans to enter new environmental markets and advance its initiatives to support a decarbonizing economy in partnership with The Rise Fund.

Kirkland & Ellis LLP was legal adviser to the fund, while Eversheds Sutherland was legal counsel to Element.

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