In brief: Washington State recommends impact investments with KKR, Ara and Towerbrook

WSIB, which has backed all four of TPG's Rise funds, is considering investing $450m in three funds.

The Washington State Investment Board is considering investing $450 million to impact funds. Its board will consider three fund commitments recommended by the private markets committee, an investment memo seen by New Private Markets shows:

This is not the $152 billion pension fund’s first foray into impact. It committed $250 million to TPG Rise III last year, and previously invested $200 million in Rise I in 2017, $250 million in Rise II in 2019, and $325 million in Rise Climate in 2021.