Generation Investment Management, the impact-focused investment firm co-founded by Al Gore, is seeking to raise $1.25 billion for a new fund.
The vehicle will target innovative sustainability-focused high growth companies primarily in North America and Europe, according to an investor letter seen by Bloomberg News. That may include firms involved in climate change solutions, low-cost health care and providers of wider access to credit.
Founded in 2004 by the former US vice president and David Blood, who previously worked at Goldman Sachs Group Inc’s asset management unit, GIM manages more than $36 billion in public and privately held securities. Investments include wealth-management services provider FNZ and UK energy supplier Octopus Energy Group.
The new fund is called Sustainable Solutions IV. A predecessor Fund III raised $1 billion in 2019, the firm said at the time.
A spokesman for London-based GIM declined to comment on the fund raise.
Speaking in Glasgow last year at the COP26 climate summit, the 73-year-old Gore said the world was waking up to the “dire’ threat of climate change, and the economic opportunities it presented.