UBS raises US$325m for impact investment fund

Zurich

SWISS bank UBS has raised US$325 million for a private equity impact investment fund, as the world's biggest private bank looks to meet wealthy clients' growing appetite to combine philanthropy with money-making.

The Rise Fund, which counts Irish rock star Bono among its co-founders, aims to achieve "measurable, positive social and environmental outcomes alongside competitive financial returns", UBS said in a statement on Monday.