Former Treasury Secretary Paulson Joins TPG for New Climate Fund

Former Treasury secretary Hank Paulson has joined TPG to help run a fund that will invest in companies fighting climate change.

Paulson, 74, will work alongside TPG co-founder Jim Coulter, said company spokesman Luke Barrett. The fund will look to target various climate-related sectors such as solar, electric vehicles and agriculture, he said.

TPG, which manages $85 billion, has been diversifying from traditional buyouts into other business lines. In 2016, TPG founded its social impact investing business, and in 2017 raised the largest fund dedicated to the strategy at the time. Prominent philanthropists, business leaders and activists joined ...