Color Me Bearish
Gore to launch new style global fund (Financial Times)
Al Gore, the former US vice-president, is to put his expertise in global sustainability issues into practice with the launch of a fund management firm.
Mr Gore has teamed up with David Blood, former chief executive of Goldman Sachs Asset Management, to set up Generation Investment Management, a London-based boutique that will invest in global equities.
The six founder partners have contributed a total of “double-digit” millions of dollars to kickstart Generation, which plans to begin attracting funds in the new year.
The firm aims to deliver higher investment returns by integrating traditional equity analysis with sustainability research, a fledgling area that combines the principles of economic growth, environmental stewardship and social accountability.
Perhaps it’s inevitable that, as a professional fund manager immerses himself in liberal politics, a liberal politician immerses himself in fund management. I’ll give Gore this much: he puts his money where his mouth is. For years, he’s hyped the concept of sustainability, and now he actually wants to put resources into it. But I’ll be damned if I invest a dime in his venture.