Clean Energy Hedge Fund Launches With $59 Million

Dec 27 2006 | 10:18am ET

A new clean energy hedge fund launched this month with $59 million (£30 million) in seed capital, according to industry newsletter ClearProfit.

The U.K.-based fund, the ALMA Clean Energy Hedge Fund, is being managed by Bozkurt Aydinoglu, who co-founded research firm New Energy Finance in 2004.

ClearProfit quotes Aydinoglu as saying he has 500 listed companies in 20 different markets his sights. Included in these markets are firms involved in low-carbon energy production, with nuclear energy being part of the production mix.

“Clean energy can’t be divorced from nuclear,” Aydinoglu said.

According to the U.S.-based Energy Hedge Fund Center, there are now more that 500 energy-focused hedge funds worldwide, with many of these having a clean technology component.

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