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Gore’s Investment Firm Said to Start $500 Million Asian Fund
The fund may start by July, said the people, who asked not to be identified because the information is private. It will buy shares of Asian companies that adhere to Generation’s investment guidelines of focusing on “economic, social and environmental” sustainability, while eschewing “short-term” profit goals.
Generation is looking to invest in countries including China and India as Asia’s growth, and the region’s demands for natural resources, increasingly affect the world economy. The firm, which targets pension funds and wealthy clients, closed its main global equity fund in 2008 to new money after assets rose to about $5 billion. Gore, the former U.S. vice president, founded London-based Generation in 2004 with David Blood, who previously headed asset management at Goldman Sachs Group Inc.
Generation’s Asian fund, like the global equity fund, will only make bets that stocks will rise, according to the people. The fund will be separate from Generation’s venture-capital business, which provides funding for renewable-energy firms and companies that create markets for trading carbon emissions.
Generation’s earnings almost quadrupled in 2009 to 31.5 million pounds ($50.8 million) from 8.3 million pounds in 2008, according to a Sept. 9 filing with the U.K.’s Companies House.
Generation was eligible to distribute most of the profits to its 10 partners, including Gore, Blood, 51, and Peter Knight, a campaign manager to former U.S. President Bill Clinton. Five percent of the firm’s earnings go to the Generation Foundation, a U.K.-registered charity that researches sustainable development.
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Ironically, China builds approx. 2 coal-fired power plants per week and are exempt from environmental standards. So they keep spewing dirty coal pollution in the air for cheap, while our few clean plants our subject to higher costs through regulation. Mr. Gore and his Illuminati friends know this and will make billions.
They've already created a world trading market for CO2 to fund their global government. Global Warming aka fear mongering the weather to make money. Only the New World Order could pull off a Ponzi scheme this big.
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