https://www.bloomberg.com/news/articles/2018-04-26/john-kerry-joins-tpg-s-2-billion-rise-fund-as-senior-adviser?cmpid%3D=socialflow-twitter-politics&utm_content=politics&utm_source=twitter&utm_campaign=socialflow-organic&utm_medium=social
TPG’s Rise Fund has enlisted former U.S. Secretary of State John Kerry as a senior adviser, bolstering its credibility as the fund sets out to prove that financial returns and social good can go hand-in-hand.
Kerry said he will help identify investments and advise portfolio companies across Rise’s various sectors, with a focus on renewable energy opportunities. Foreign policy and economic policy are closely linked, and businesses that can empower people with job opportunities, create better access to health care and education, and develop more sustainable energy and infrastructure systems are essential to social stability, he said in an interview that included TPG Growth managing partner Bill McGlashan.
Rise became the largest impact investing pool ever when it closed on $2 billion in October. The strategy, born out of private equity firm TPG’s growth investing efforts, aims to deliver both market-rate returns as well as measurable social and environmental benefits. The team, which has so far backed 11 businesses, invests across seven primary sectors: agriculture and food, education, energy, financial services, health care, technology and infrastructure.
Private Equity Works to Be Both Social Steward and Profit Engine
More than a dozen advisers work with Rise, including former U.S. Secretary of Education Arne Duncan and Rick Levin, the former chief executive officer of online-courses company Coursera Inc. TPG, with main offices in San Francisco and Fort Worth, Texas, compensates senior advisers in a way that aligns incentives with performance for investors, according to a representative of the firm.
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