Ropes & Gray Advises The Rise Fund in its Investment in Human Interest
Ropes & Gray advised The Rise Fund, TPG's global impact investing platform, in its investment in Human Interest. SoftBank Vision Fund 2 also participated in the $200 million investment round. The transaction was announced on Aug. 4. The press release is >here.
Human Interest, founded in 2015 and headquartered in San Francisco, is an affordable, full-service 401(k) provider that makes it easy for small and medium-sized businesses to help their employees save for retirement. The Rise Fund, with more than $5.5 billion in assets under management, is the world’s largest global impact platform. The fund was founded in 2016 by TPG in partnership with Bono and Jeff Skoll to help achieve the United Nations’ Sustainable Development Goals.
The Ropes & Gray team that advised The Rise Fund was led by private capital transactions partner Jay Freedman (San Francisco), and included employment, executive compensation & benefits partner Loretta Richard (Boston), asset management counsel Nathan Somogie (Boston), private capital transactions associate Steven Obiajulu (Chicago), and tax, employment & benefits associate Michael Stern (New York).