Thursday, 31 July 2014
Last updated 22 min ago
Nov 23 2009 | 8:12pm ET
Pension and sovereign wealth funds are set to be among the investors in the UK government’s planned £1 billion ($1.7 billion) Innovation Fund for the life science, cleantech and digital sectors.
The fund was launched by Prime Minister Gordon Brown in June 2009, with an initial government investment of GBP 150 million ($248 million).
Paul Drayson, the UK Minister for Science and Innovation, told Responsible-Investor.com that the Innovation Fund has “pension fund investors with sovereign wealth funds plus a number of very high net worth individuals.” Drayson did not name names, but said he expected the fund, if achieved, to provide a “real boost” to the UK’s cleantech sector.
The government is currently at the due diligence stage of appointing a fund manager. Officials say the name of the manager and the value of the first closing will be announced shortly.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…