Fink targets $5bn for sustainable venture funds

Hedge fund industry titan Stanley Fink has teamed up with the former head of Close Investments, Rufus Warner, to form Earth Capital Partners. The firm will drive “environmental economic growth” via a series of venture-style funds.

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.

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.

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.