Generation Investment to raise $1.25bn for new fund

Al Gore’s impact-focused investment firm, Generation Investment Management, is looking to raise $1.25 billion for a new fund.

According to an investment letter seen by Bloomberg News, the vehicle will primarily target innovative sustainability-focused high growth companies in North America and Europe. This might include companies working on climate change solutions, low-cost health care, and credit access providers.

GIM manages more than $36 billion in public and privately owned securities and was founded in 2004 by the former US vice president and David Blood, who formerly worked at Goldman Sachs Group Inc’s asset management unit. FNZ, a wealth management services provider, and Octopus Energy Group, a UK energy supplier, are among the investments.

Sustainable Solutions IV is the name of the new fund. A predecessor fund, Fund III, raised $1 billion in 2019, according to the firm. GIM, based in London, did not respond to a request for comment on the cash campaign.