Reach Alternative Investments, an Australia-based private equity investment platform, is set to reach the first close of its targeted $20-million global impact fund by the end of next month as it looks to tap wealthy investors, according to an investor presentation seen by DealStreetAsia. It is looking at a final close by March next year.
Launched in April this year in partnership with US private equity titan TPG and a joint venture between BlackRock and Temasek known as Decarbonisation Partners as underlying managers, Reach IV Impact Fund is targeting an over 20% internal rate of return (IRR), the presentation showed. The fundraising target was not included.