Former boss of Man Group Stanley Fink, often called the “godfather” of the hedge fund industry, is joining former chief executive officer of Close Investments, Rufus Warner, to launch a sustainable and renewable fund management firm.
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Stanley Fink |
Earth Capital Partners will address the need for “institutional principles to be applied to environmental economic growth”, according to a presentation from the firm.
It will seek to raise $5 billion from a mix of institutions, foundations, sovereign wealth funds, individuals and corporates in the first five years of its life.
ECP will invest in such sectors as agriculture, infrastructure and cleantech via a series of venture-style funds as well as joint ventures, co-investments and special purpose vehicles.
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| Rufus Warner |
The firm will target returns in the “low to high teens”, depending on the asset class, and will also deliver “Earth Dividends” to investors: a scorecard system to evaluate the investee company’ sustainability.
The firm, which will be based in London, is currently awaiting authorisation from the Financial Services Authority.
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