GLG to bring out green hedge fund

London-based GLG Partners is expected to launch a green hedge fund in the coming weeks.

The $17 billion hedge fund manager told investors in a letter that in March it will start an Environment Fund using the firms with the greenest credibility from its European Equity Strategy.

Clients are already being asked to register for further information about the fund.

The fund will look to investing in renewable energy technologies and socially responsible investing funds, as well as offsetting carbon emissions from its own activities through carbon credit trading and offset programmes.

GLG was first established as a division of Lehman Brothers and the firm still owns around 15 per cent of the hedge fund manager. Earlier this year Lehman also bought 20 per cent of the US hedge fund manager Spinnaker Capital Group.

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