The Mac Weekly – Larson resigned from the board in August 2007 after the sale of his hedge fund, which had been one of the most successful in the country. Sowood Capital Management was an early, high-profile casualty of the subprime mortgage collapse that preceded the financial crisis. The fund lost more than half of its value in July 2007 when investors ran from corporate credit and traditionally safe bets became began to backfire.

“We’re very happy to have Jeff Larson back on the committee,” Aase said. “He brings a wealth of institutional investment experience with him, along with insights gained from the difficulties he encountered with his hedge fund.”

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Tags: capital-management, endowment, hedge fund, institutional-investment, investment experience, investors, subprime-mortgage

West Palm Beach (HedgeCo.net) – Alternative investment manager and advisor, Climate Change Capital, (CCC) has been appointed to manage a climate change fund for Dublin-domiciled UCITS platform, Russell OpenWorld.

The Global Climate Change Fund will be managed by Climate Change Capital’s Global Equities’ team of Paul Udall and Ronnie Lim.

The new fund will invest globally in sectors impacted by climate change. Udall and Lim, both Managing Directors at Climate Change Capital together have over 30 years’ investment experience, and over 12 years’ experience in managing specialist environmental equities. Prior to joining Climate Change Capital in 2007, both worked in the Sustainable Investment team at Morley Fund Management (now Aviva Global Investors), a top-ranked Socially Responsible Investing team.

“Climate Change Capital is uniquely positioned globally as an investment firm to benefit from the significant investment opportunities that exist in climate change,” Shaun Mays, Chief Executive Officer at CCC, said, “Russell has a highly-regarded research and due diligence process, and we are pleased to be selected as the manager for one of their specialist, thematic funds.”

The fund aims to provide significant excess returns above global equity markets by investing in a manager that takes high conviction active positions in companies that are affected by climate change. This is a relatively new area of investing, enabling investors to add an innovative and differentiated return stream to their portfolios.

With over US $1.5 billion under management as of April 2009, Climate Change Capital aims to provide attractive returns to investors, demonstrating the financial opportunity associated with the low carbon economy.

Alex Akesson
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alex@hedgeco.net
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Tags: alternative investment, carbon economy, chief executive officer, global equity markets, investment experience, investment team, investment-firm, sustainable investment