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GreenNews - USA - Investing Green Without Seeing Red
WASHINGTON, D.C.,USA -Forbes, by Andrew T. Gillies -16 Nov 2005: -- Fifteen years ago, Jeffrey Leonard and a partner pulled together $5 million to found a private equity outfit, the Global Environment Fund, devoted to making money off environmentally friendly technologies... the Fund chief rattled off a few of his favorite deal-making areas: liquefied natural gas, clean diesel, nuclear power and clean coal. Hardly stuff to the average enviro... Meanwhile, Leonard's Global Environment Fund has prospered. From that original $5 million in 1990, the fund's assets under management have grown to $500 million. Leonard says he's making money for investors and expects to have in the ballpark of $800 million to manage within the next year and a half... Finally, beware of government. Leonard sees an important role for the public sector in funding research and development, but watch out if it gets heavily involved in commercializing new technologies or propping them up with tax credits and other subsidies. Why's that? Those subsidies can vanish just as soon as they appeared. Just ask the entrepreneurs who looked to cash in on California's electric cars...
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