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Alternative Market Briefing

Hedge fund star to launch authentic impact fund

Thursday, November 18, 2021

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Larry Abele
B. G., Opalesque Geneva:

A London-based provider of ESG data and analytics run by partners who have decades of investment experience is to launch a hedge fund with a negative footprint.

Originally created in 2004 by Larry Abele - then co-founder of hedge fund Auriel Capital Management and once named among Institutional Investor's 20 rising stars in hedge funds - the firm was first known as Auriel Equities. Abele moved on to create Impact Cubed in 2010 while Aspect Capital acquired Auriel Capital Management in 2016.

Since inception, Impact Cubed has been focusing on building long-term models based on environmental, social and governance (ESG) data, with special attention to alignment with the United Nations Sustainable Development Goals for 2030.

During his initial research into ESG, which started in 2008, Abele learned that ESG data sets at the time were not of much use to him as a manager. "They were mostly subjective scores that weren't of any help to us in producing absolute returns," he says during a recent Opalesque Virtual Manager Visit webinar. "While most of the industry talked about looking for the risk and opportunities that would arise from looking at environmental and social issues, the vast majority of the industry was going through a compliance exercise."

So he and his partners decided to build their own data set. They spent the ......................

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