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Gore’s Fund Closes at $683 Million


By Kent Bernhard, Jr.
National Green News
May 1, 2008


The Financial Times reports the fund will focus on renewable energy, energy
efficiency technology, biofuels and biomass. This is the second fund for
Generation Investment Management. The first focused on larger firms the fund
deems to be environmentally friendly.

Gore is chairman of Generation Investment Management, while former Goldman Sachs
Asset Management boss David Blood manages Generation.

Blood told the Financial Times the size of the fund is an indication that green
investing is going strong, despite general economic and financial troubles.

“A fear expressed by some is that the first thing to go in a downturn is the
nice-to-have sort of investment. Some people put green investments in that
category, but we think that is nonsense. This is not nice-to-have – it is
fundamental finance...because the transition from a high-carbon to a low-carbon
economy is a ginormous step that is going to happen quickly,” he told the
newspaper.

 

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