Consensus Sells Off Cleantech Investments

Mar 25 2009 | 3:31pm ET

The U.K.-based Consensus Business Group, noted for its cleantech investments, has been selling down its cleantech portfolio and shifting assets into property, reports Environmental Finance.

The group – owned by Vincent Tchenguiz and with over $1.5 billion in assets after debt – has sold about one third ($120-140 million) of its cleantech investments in recent months.

A spokesman for the group confirmed the sales for Environmental Finance, saying cleantech is “simply not very attractive at the moment,” while property is.

The Consensus Group said in a statement that it is “currently reallocating certain portfolio assets – some of which have been held for a considerable length of time. Selected asset sales in both the primary and secondary private equity markets have resulted in favorable returns to Consensus.” Buyers, said the group, have included pension funds and other institutional investors.

The group is still investing in cleantech, having recently put $10 million into the World Bank’s BioCarbon fund, and continues to raise funds for Inspired Evolution One, a South African cleantech fund in which it is a key investor.

Who is investing in clean technology?
Find out, visit our sister publication
CleanTech Brief


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...