Man Investments partners with Abu Dhabi Gov’t
Alternative investment manager Man Investments has partnered with the Abu Dhabi Government in order to establish a global fund with an environmental focus.
The MENA Associated Gas and Global Environment Fund aims to raise US$1.5 billion for investment in projects that capture associated gas from crude oil production and use it to generate electricity and other products, thus reducing greenhouse gas emissions.
MTM Capital Partners, a subsidiary of Man, will be the fund’s investment manager, while the Abu Dhabi Government-owned International Petroleum Investment Company has committed an initial US$300 million as a cornerstone investor.
The Abu Dhabi Government is seen as a world-leader in pioneering environmental projects and the fund is believed to be the first of its kind to team a global financial institution with a government that is a major player in the energy sector.
MTM describes the fund as innovative, “since it should not only generate attractive returns on investment while benefiting the environment, but will also contribute to the growing need for energy”.
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