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New fund wants quantifiable impact

US$2b Rise has a series of strict social impact metrics by which to measure what it achieves.

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Bono is among the all-star cast of Rise's board members, all of whom are investors. The new fund, which will be part of TPG, will be the first large test case for social investing.

"THERE is a lazy mindedness that we afford the do-gooders." That was Bono, the musician turned activist turned investor, lamenting the pitfalls of what has become an increasingly fashionable form of financing: social impact investing.

Just about every big Wall Street firm and big-time

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