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 fund's purpose is to become an investment platform for companies focused on clean energy, decarbonized transportation, green industries, agriculture, and natural solutions. TPG Rise Climate is part of TPG Rise, a fund involving singer Bono and eBay's first president, Jeffrey Skoll. To manage the new fund, Bono and his partners persuaded Henry Paulson, the former Treasury Secretary, to return to the financial arena after 12 years of retirement, during which he devoted himself to his own philanthropic organizations. Paulson has extensive experience in articulating government and private interests: as Treasury Secretary, he was responsible for managing the 2009 crisis and bailout.