TPG Appoints Scott Lebovitz for Infrastructure Investments

TL/DR -

Goldman Sachs' Scott Lebovitz, a partner and global co-head of infrastructure, is set to join TPG Inc. as a partner later this year. Lebovitz will lead the development of TPG's Rise Climate transition infrastructure business, a new initiative targeting investments in decarbonization-related infrastructure and real assets. TPG Rise Climate is part of the firm’s $18 billion global impact investing platform, TPG Rise.

Goldman's Lebovitz to Join TPG's Climate Division

TPG Inc. is set to welcome Scott Lebovitz, a partner and global co-head of infrastructure at Goldman Sachs Group Inc., as a partner leading TPG's Rise Climate transition infrastructure business. The firm confirmed the news earlier reported by Bloomberg News.

This new appointment, to be effective in the second half of this year, is part of TPG's novel strategy to target investments in infrastructure and real assets that promote decarbonization. Lebovitz's departure was announced by Goldman in a staff memo from Marc Nachmann, head of the bank's asset-and-wealth management division.

The TPG Rise Climate initiative and the transition infrastructure strategy form part of TPG Rise, the firm's $18 billion global impact investing platform. "We envision significant capital deployment opportunities to build real assets in the future, both within our current TPG Rise Climate portfolio and across the broader climate sector," said Jim Coulter, TPG founding partner and managing partner of TPG Rise Climate.

Lebovitz, a Goldman veteran based in New York since 1997, is the bank's most senior infrastructure investing professional in the U.S. He has been leading the firm's efforts with London-based global infrastructure co-head Tavis Cannell and chairman Philippe Camu. Post his departure, Cannell will lead the business while Camu stays as chairman.

Speaking on the firm's future, Camu said, "We'll continue to run the business in a globally integrated way as we have done since 2006.”

Over the past four years, Goldman's platform has nearly doubled in size, boasting almost 40 investment professionals, Cannell confirmed in a statement.

In a recent earnings call, TPG’s CFO, Jack Weingart, stated that the firm is making strides with the launch of its inaugural climate transition infrastructure fund. It is expected to hit the market by 2024, attracting strong interest from anchor LPs.

TPG's CEO, Jon Winkelreid, emphasized the importance of the climate sector, stating it's "too important of an area and too big an area” for large capital pools to overlook.

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