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TPG Seals Record $2 Billion for Fund Co-Led by Bono

  • ‘This can’t be feel-good investing,’ TPG’s Bill McGlashan says
  • Fund draws new investors UC Regents, Bank of America, UBS
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McGlashan on The Rise Fund's Approach to Investing

Private equity firm TPG collected $2 billion for The Rise Fund, tapping growing demand for impact investing to create the largest pool of its kind.

The fund, which TPG raised in about seven months, surpassed its $1.5 billion target and hit its $2 billion hard cap, or the maximum amount of outside capital allowed by its agreement with investors. TPG employees plan to commit additional money before a final close.