Generation Investment Management raises $1bn latest private equity fund
The sustainable investment management firm, Generation Investment Management, has raised US$1bn for its latest private equity fund.
The company, which was co-founded by former-US Vice President, has launched the third and largest fund of its kind, Reuters reported.
The Generation IM Sustainable Solutions Fund III, which is part of the firm’s Growth Equity strategy, will invest between $50mn and $150mn in companies working towards three key factors: planetary health, people health, and financial inclusion.
“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,” stated Al Gore, Chairman and Co-Founder.
“Globally, we see the rapid adoption of sustainable solutions at an important inflection point. By taking advantage of technology cost-down curves, companies can drive sustainable transition through profitable growth and innovative business models,” noted Lilly Wollman, Partner and Co-Head of the Growth Equity platform.
Generation Investment Management has been committed to investing in global companies targeting sustainability for the past 15 years.
“Sustainability is about both what a company does (the products and services it sells) and how a company operates,” commented Lila Preston, Partner and Co-Head of the Growth Equity platform.
“A hallmark of our investment approach is that we take a systems-level view and leverage our long-term horizon and deep industry insights.”