Gore's Investment Company Creates a New $683 Million New 'Green' Fund. By Fiona Harvey, FT, April 30, 2008. "[Generation Investment Management], headed by Al Gore [and managed by David Blood, former head of Goldman Sachs Asset Management], has closed a new $683 million fund to invest in early-stage environmental companies and has mounted a robust defence of green investing. The Climate Solutions Fund will be one of the biggest in the growing market for investment funds with an environmental slant. The fund will be focused on equity investments in small companies in four sectors: renewable energy; energy efficiency technologies; energy from biofuels and biomass; and the carbon trading markets. This is the second fund from Generation... The first, the Global Equity Strategy Fund, has $2.2 billion invested in large companies the company judges have 'sustainable' businesses, from an environmental, social and economic viewpoint. Mr Blood said he expected that fund to be worth $5 billion within two years, based on commitments from interested investors... 'The fact we were able to raise $683 million was extraordinary, so our experience is that it has not really been a problem [raising funds despite what is] generally a difficult environment,' he [added]."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment