UBS has raised $93 million (€83.4 million) for General Investment Management’s (GIM) fund aimed at investing in sustainable companies focused primarily on “planetary health, people health and financial inclusion”.
The newly closed Sustainable Solutions Fund III intends to make long-term returns through $50-100 million investments in high growth companies that meet both firms’ criteria of sustainability such as low-carbon solutions for mobility, food and energy, and lower-cost accessible health care.
According to UBS, the partnership with GIM expands its sustainable and impact investing solutions range which includes the launch of the “first 100% sustainable cross-asset portfolio for private clients” which now has $5 billion in assets under management (AuM).
“We believe that we are at the early stages of a technology-led sustainability revolution which has the scale of the industrial revolution, and the pace of the digital revolution,” said Al Gore, co-founder and chairman of GIM.
According to chief investment officer Mark Haefele, UBS global wealth management shares GIM’s view that “longer-term trends towards sustainability present investors with opportunities to both support the UN’s sustainable development goals, and fulfil their financial objectives”.
“Generation is a pure play sustainable investment manager. We seek businesses that provide goods and services consistent with a low-carbon, prosperous, equitable, healthy and fair society,” said David Blood, co-founder and senior partner at GIM.
GIM, which focuses solely on sustainable investing, has $22 billion in AuM.
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