In brief: TowerBrook impact fundraise nears $300m

TowerBrook Capital Partners has raised almost $300 million for its debut impact fund, according to a source familiar with the fundraise.

A recent SEC filing disclosed that the fund had raised $181.8 million, though this did not include the most recently-secured commitments, according to the source. A $100 million commitment from Washington State Investment Board, which was recommended by its private markets committee earlier this month, has since been approved. TowerBrook declined to comment on the fundraise.

TowerBrook Impact Opportunities launched in 2021 with a mandate to invest in companies addressing one or more UN SDGs. At the start of this year, the programme was renamed TowerBrook Delta. The firm is looking to make majority and minority investments of up to $100 million. The fund made its first two deals earlier this year, acquiring controlling stakes in telecom infrastructure company TXO and electric vehicle charge point producer Envevo.