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IPFS News Link • Economy - International

Hank Paulson Returns To Wall Street To Run 'Climate-Focused' PE Fund

•, by Tyler Durden

But from here on out, the public might be seeing and hearing more from the septaugenarian who once ran Goldman Sachs, before he was tapped to run the Treasury Department by President George W Bush.

As NYT editor and CNBC host Andrew Ross Sorkin reported on Wednesday, Paulson has been tapped by - of all people - U2 frontman Bono to lead a new climate-focused investment fund at private equity firm TPG Capital. The 74-year-old will now return to the private sector for the first time since leaving Goldman in 2006.

Here's more from the NYT:

This past fall, Henry M. Paulson Jr., the former Treasury secretary, got a call from Paul David Hewson, better known as Bono. The musician-activist-investor had an idea and "an ask": Bono, who helped found TPG's $5 billion Rise funds focused on "impact investing," told Mr. Paulson that the investment firm wanted to create an even bigger platform to focus exclusively on combating climate change — and he wanted Mr. Paulson to run it.