Alternative Market Briefing

Green investing refocuses with U.S. Congress Bill as hedge fund veteran launches first 'green' fund of hedge funds

Wednesday, July 29, 2009

From Kirsten Bischoff, Opalesque New York:

There seemed to be a lull in the "green investing" markets as the financial crisis took hold in the US and crude oil prices dropped from all time highs last July to somewhere seemingly more reasonable now. However, the environment has a way of refocusing our attention when it wants to. The US States of Texas and California are both currently battling severe droughts (Texas facing the worst in 50 years), as is India and as has Australia with multi-year drought issues. Also snapping investors back into focus is the US climate bill, making its way through Congress and with it a renewed focus on the investment opportunities that environmental protection legislation will bring.

To take advantage of "the early stages of a long-term, multi generational growth cycle for carbon reduction strategies," hedge fund industry veteran Richard Bookbinder, Managing Member of New York-based Bookbinder Capital Management, launched TerraVerde Capital Partners a "green" focused fund of hedge funds on July 1st. Bookbinder made the two years decision to launch the specialized fund of hedge funds after meeting with "green" focused managers and seeing rapidly growing opportunity in the space. His team spent the subsequent two years meeting with hedge fund managers, politicians, engineers, scientists, private equity firms, and commercials users such as public utilities to refine the strategy and port......................

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