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Private Equity | 7 February 2011

Al Gore's Generation Investment Management Plans $500 Mn Asian Fund

by Deeshesh Chheda
Al Gore's Generation Investment Management Plans $500 Mn Asian Fund
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Former US Vice President Al Gore's Generation Investment Management LLP (GIM) is planning to launch a $500 Mn fund to invest in Asia, including India.

London-based GIM was founded in 2004 by Al Gore and David Blood, former head asset management at Goldman Sachs Group Inc.

GIM which raises funds from pension funds and HNI's, closed its main Global Equity Fund in 2008 with a corpus of $5 Bn.

The firm invests in companies that follow so-called socially responsible guidelines in the expectation that they will report better returns.

The firm invests for long-term and has offices in London, Sydney, and Washington DC with a total of 42 people.

GIM's team also includes Mark Ferguson, former co-head of pan-European research at Goldman Sachs Asset Management , and Peter Harris, former head of Goldman Sachs Assets Management international operations.

GIM's investment includes companies like Ebay Inc, payroll processing company Paychex Inc and contracting firm for electric utilities Quanta Services Inc, among others.

Generation's earnings almost quadrupled in 2009 to 31.5 Mn pounds ($50.8 Mn) from 8.3 Mn pounds ($13.4 Mn) in 2008. 5% of the firm's earnings goes to Generation Foundation, UK-based charity that researches sustainable development.

Transaction Reference: Bloomberg

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