Private equity firm C Change Investments and Korea Investments & Securities to manage Korea’s Green Growth Fund

18th March 2009

Private equity firm C Change Investments and Korea Investments & Securities has been drafted in to manage Korea’s Green Growth Fund.

C Change will undertake the organisation of the fund which is expected to be launched in June 2009 with an investment of $130m by the Korean government as well as financing from private sector investors in Korea and overseas.

The Korean government previously unveiled plans to become a world leader in green technologies with a ‘Green New Deal’ project aimed at creating 900,000 jobs over the next four years. The Green Growth Fund is viewed as a means to execute this plan.

The fund will make private equity investments in companies and projects across the world which promote low carbon, green economic growth.

Russell Read, C Change CEO, said, ‘This is a very satisfying win for C Change as we were selected from a highly competitive field of a dozen Korean and global firms. C Change’s mission and capabilities are a perfect match for this enormous opportunity to help shape green investment and deployment.’

C Change Investments was co-founded in 2008 by Read and John Preston and focuses on projects and companies looking to commercialise clean energy technologies. Read is the former CIO of CalPERS.

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