Man Investments last month launched a new private equity unit, Man Environmental Capital Opportunities, specialising in financing environmentally-related projects. Nick Wood, a member of Man Investments’ management committee, heads the new unit.

“Investing in projects that benefit the environment is becoming more and more popular and we see great opportunities to benefit investors and our natural world together,” said Wood.

The launch of Man ECO follows the close of a greenhouse gas fund, the China Methane Recovery Fund, which raised US$600 million and closed in December. The fund, believed to be the largest of its kind, extracts methane gas from coal mines in Shanxi province and uses it to generate electricity and carbon credits, under the stipulations of the Kyoto Protocol.