FT: Gore investment body closes $683m fund
The investment vehicle headed by Al Gore has closed a new $683m 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 Investment Management, chaired by the former
vice-president of the US and managed by David Blood, former head of Goldman Sachs Asset Management.
The first, the Global Equity Strategy Fund, has $2.2bn 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 $5bn within two years, based on commitments from interested investors.
HMMMM... FOLLOW THE MONEY....
- GORE ISN'T A GURU; HE'S A TOUT.
- THE ONLY GREEN HE REALLY CARES ABOUT IS THE GREENBACK!
- WHAT A SCU*BAG.
- BOTTOM-LINE: AGW = BS.
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