Gore Outfit Closes $683M Crossover Climate Fund

May 1 2008 | 11:29am ET

Generation Investment Management, the London-based firm co-founded by former U.S. Vice President Al Gore, has closed its Climate Solutions Fund at $683 million. The new vehicle will invest in a range of green private and public companies.

The fund will invest in renewable energy technologies, building efficiency, cleaner fossil energy, sustainable agriculture and carbon markets. The firm will also seek to serve as an active shareholder of its portfolio companies “to assist companies in shaping and implementing their strategic direction.”

“Generation believes that sustainable development that addresses the climate crisis will be a significant driver of industrial and economic development over the coming decades,” said David Blood, managing partner. “However, there is clearly a significant gap between the capital needed and the capital currently deployed to create enduring solutions to the climate crisis.  As a result, investing in scalable solutions now is critical and our Climate Solutions Fund intends to do just that.” 

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