TPG Rise Climate, a newly created fund that will focus on investments in companies dedicated to combating climate change, raised no less than US$5.4 billion in its initial round at the end of July. Participants include some of the world's largest institutional funds and some 20 leading companies in their sectors, such as Boeing, Nike and Honeywell. The purpose of the fund is to become an investment platform for companies focused on clean energy, decarbonized transportation, green industries and agriculture and natural solutions. TPG Rise Climate is part of TPG Rise, a fund in which singer Bono and eBay's first president, Jeffrey Skoll, participate. To manage the new fund, Bono and his partners persuaded Henry Paulson, the former Treasury secretary, who is returning to the financial courts after 12 years in retirement, devoted to his own philanthropic organizations. Paulson has extensive experience in articulating government and private interests: as Treasury Secretary he managed the 2009 crisis and bailout.