Bono co-founded TPG Capital's Rise Fund. Photo: Alex Wroblewski/Getty Images

"Impact investing" is so hot right now, particularly within a private equity market that has developed a lingering reputation for soulless plundering. But it remains unclear if such efforts actually have an impact beyond public relations.

The state of play: Enter TPG Capital, which is in the midst of raising $3 billion for its second Rise Fund, an impact investing effort co-founded by U2 frontman (and perennial Davos Man) Bono.

Driving the news: This morning TPG Capital announced the launch of Y Analytics, an independent public benefit corporation that will provide actionable data for impact investors — not only so current ones can invest smarter, but also to encourage new entrants.

  • The initial focus will be on capital directed at the UN Sustainable Development Goals, which cover everything from poverty to climate change to water sanitation.
  • Y Analytics will be led by former McKinsey & Co. partner Maryanne Hancock. TPG does not intend to profit from the company (i.e., it won't exit).
  • Per Bono: "Capitalism isn’t immoral, but it is amoral and it needs direction."

Go deeper: The coming reckoning for capitalism

Go deeper

40 mins ago - Health

U.S. hits highest daily COVID-19 case count since pandemic began

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COVID Tracking Project

The U.S. confirmed at least 83,010 coronavirus cases on Friday, the country's highest daily total since the pandemic started, according to data from the COVID Tracking Project.

By the numbers: At least 83,010 cases were confirmed Friday, surpassing the U.S.'s previous record set on July 17 when 76,842 cases were recorded.

Updated 49 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci: Trump hasn't been to a COVID task force meeting in months.
  2. Sports: The youth sports exodus continues — Big Ten football is back.
  3. Health: AstraZeneca to resume vaccine trial in U.S.How to help save 130,000 lives.
  4. Retail: Santa won't greet kids at Macy's this year.
  5. World: Spain and France exceed 1 million cases.
2 hours ago - Health

Fauci: Trump hasn't been to a COVID task force meeting in months

Photo: Drew Angerer/Getty Images

President Trump has not attended a White House coronavirus task force meeting in “several months,” NIAID director Anthony Fauci told MSNBC on Friday.

Why it matters: At the beginning of the pandemic, the task force, led by Vice President Mike Pence, met every day, but in the "last several weeks," members have held virtual meetings once a week, Fauci said, even as the number of new cases continues to surge in the country.

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