Och-Ziff Invests In Carbon Emissions Firm

Aug 20 2008 | 1:39pm ET

Hedge fund Och-Ziff Capital Management Group is digging deep to go green.

The New York-based firm has agreed to invest up to $500 million in projects to bury greenhouse gases run by emissions credit company Blue Source. Och-Ziff has also taken a 10% stake in Salt Lake City, Utah-based Blue Source.

“We are excited to be able to jointly build a carbon asset business with Blue Source,” Och-Ziff founder Daniel Och said in a statement. “We consider the firm and its principals to have a unique leadership position in the industry.”

“To us, it’s pretty dramatic,” Blue Source CEO Bill Townsend told Bloomberg News. “We think that this will probably fund us for the next three years of investments.”

Blue Source will put the money into projects that pump greenhouse gases into underground storage facilities, including abandoned oil wells and saltwater aquifers.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.