Ex-Man CEO Fink Founds Green Investment Firm

Dec 4 2008 | 10:53am ET

For most people, retirement means having no jobs. For Stanley Fink, it means having at least two.

The former Man Group CEO, who stepped down from his post at the publicly-listed hedge fund giant earlier this year, is now getting in on the ground floor of a new green investment firm. He announced the launch of Earth Capital Partners today, with plans to raise US$5 billion for the new venture over the next five years.

Fink will serve as chairman of the new firm. The job at Earth Capital is Fink’s second post-Man post; he joined hedge fund International Standard Asset Management as CEO in September.

Fink said he is in advanced talks about a US$250 million seed investment for Earth Capital, which will follow strict investment guidelines to deliver green returns.

“Our objective will be to deliver attractive returns by investing in projects, companies and financial instruments, which address sustainable development challenges, such as climate change, water scarcity and energy security,” Fink said. “Sustainable development—meeting the needs of today without jeopardizing the ability of future generations to meet their needs—is at the heart of our model.”

Former Close Partners CEO Rufus Warner will serve as CEO of Earth Capital. The firm plans to offer a number of products, including an environmental markets fund, an infrastructure fund and a clean tech venture capital fund.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...