West Palm Beach (HedgeCo.Net) – Al Gore’s investment firm, Generation Investment Management will close its doors to new investors as early as next month.

Gore, along with co-founder David Blood, will most likely restrict further investments into the company’s main Global Equity Fund, after reaching their $5 billion target.

Global Equity invests in earth-friendly companies that follow socially responsible guidelines. Gore, being a staunch advocate for the awareness of global warming and a Nobel Peach Prize winner, believes that these companies post better returns.

“More money is allocated by markets around the world in one hour than by all the governments on the planet in a full year,” Gore told reporters in Geneva. “The principles and ways and values that have an impact on the way markets allocate resources can have an enormous effect” [on climate change].

7% of the funds assets are invested in Novo Nordisk A/S, the world’s largest insulin maker. Other companies the fund invests in include the food company Nestle SA and John Controls Inc., maker of auto seats and batteries.

Blood, formerly of Goldman Sachs, says that the company cannot handle more than $5 billion in assets. Returns on the fund are unknown.

“The investors that are more attracted to the strategy we follow are managing long-term assets toward long-term goals,” Gore said. “Those looking for a quick hit in the market place, to skim the cream and go somewhere else, those are not the investors attracted to this strategy.”

Lombard Odier Darier Hentsch & Cie., a swiss bank which started selling the fund last year in Europe, is now it’s biggest investor.

Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net

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