UBS raises US$325m for impact investment fund
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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.
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