Alternative asset management firm TPG announced today an agreement by its climate investing platform TPG Rise Climate to acquire a majority stake in UK-based power market analytics provider Aurora Energy Research.
Founded by University of Oxford professors and economists in 2013, Aurora provides power market forecasting and analytics for critical investment and financing decisions through a proprietary data, analytics, and software platform. The company includes more than 600 professionals across 17 offices globally, with backgrounds across energy, finance and consulting, covering areas including power, hydrogen, carbon and fossil commodities.
Dr John Feddersen, Founder and CEO of Aurora Energy Research, said:
“This investment represents a major milestone along Aurora’s journey. TPG Rise Climate’s portfolio is driving the energy transition forward globally and we’re delighted to have the opportunity to contribute to this exceptional track record.”
Ed Beckley, Managing Partner at TPG Rise Climate, added:
“With increasing power demand across the globe, Aurora’s service offering has already proved invaluable, and we expect it to have strong growth prospects in the US, Asia, and beyond.”
Information and software-focused private equity investor CGE led a management buyout of Aurora in 2020, and data and analytics fund 22C Capital also invested at the time. As part of the new transaction, CGE, 22C and Feddersen will all make significant reinvestments in the business.
Chloe Holding Curtis, Partner at CGE, said:
“We are proud to have supported John and his team at Aurora in its growth journey to date and are delighted to remain investors alongside management, TPG Rise Climate and 22C in this next phase of growth.”
Launched in early 2021, TPG Rise Climate invests in climate solutions around the world, and across asset classes and sectors ranging from growth equity to value-added infrastructure, with investments focusing areas including energy transition, green mobility, sustainable fuels and carbon solutions. The strategy is part of TPG’s $18 billion global impact investing platform, TPG Rise.
Jamie Gilbert, Business Unit Partner at TPG Rise Climate, said:
“Increased visibility into data and analytics for the power industry will continue to be a strategic differentiator across the energy value chain, and we are excited to partner with John, CGE, and 22C to accelerate Aurora’s growth.”
