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Avenue Capital to Launch ‘Impact’ Investment Fund, Source Says

(Reuters) Avenue Capital Group LLC, a New York-based investment firm with $9.4 billion in assets under management, plans to launch a fund this year that will focus on so-called impact credit investments, according to a person familiar with the matter.

The Avenue fund will primarily make debt investments, along with some equity, in North American companies, the source said. That could include businesses that aspire to have a social or environmental impact in sectors like agriculture, water, renewable energy, energy efficiency and storage, affordable housing and infrastructure resiliency, the source added.

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