(Marketwatch) -- Bono and TPG are teaming up to try to prove that investments meant to benefit society at large do what they purport to do.
The U2 frontman and his business partners at the U.S. private-equity firm announced a new company called Y Analytics, which will use a method they developed to measure social and environmental change created by investments.
It’s the latest effort in a race with dozens of participants to measure so-called impact investing, a new asset class private-equity firms are developing to try to produce social and environmental change as well as profit. Y Analytics grew out of Rise, a $2 billion investment fund TPG and Bono co-founded.
“Math is music here,” Bono said in an interview. “If capitalism is to be a force for good we have to be able to measure when it’s doing good and when it’s doing harm,” he said. “Fuzzy thinking just won’t cut it. We need cold hard facts.”
Read the full version of this article at WSJ.com.
