New York In A Green State of Mind

Apr 11 2008 | 2:00am ET

Hedge funds and private equity funds are not the only ones beating the cleantech drum. New York State Comptroller Thomas DiNapoli has unveiled his Green Strategic Investment Program, which will increase commitments to environmentally-focused strategies by $500 million over the next three years across the New York State Common Retirement Fund’s entire portfolio.

Currently, the fund has $40 million invested in private equity funds focused on renewable energy and clean technologies. It also has more than $440 million in commitments to funds where cleantech is a component of the fund’s overall strategy. DiNapoli’s Green Strategic Investment Program will allow for the expansion of the fund’s p.e. exposure to these sectors while encouraging additional investments across the fund’s entire portfolio.

“Clean technology and renewable energy have become increasingly profitable,” DiNapoli said. “It’s not just about doing good for the environment; going green is good for the bottom line too. This investment commitment will put us half a billion dollars ahead of the green curve.”


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note