LONDON (Thomson Financial) - Man Group Plc. said it will launch an
environmental fund, the MENA Associated Gas and Global Environment Fund (AGEF)
to invest in projects to capture associated gas from crude oil production and
use it to generate electricity and other products.
Man Group said the fund aims to raise $1.5 billion initially and that the
Abu Dhabi government-owned International Petroleum Investment Company (IPIC) has
committed to invest an initial $300 million as cornerstone investor.
It said its subsidiary, MTM Capital Partners Ltd. will be the investment
manager for the fund and Fluor Co-operation, a Fortune 150 company, will be the
fund's technical partner.
TFN.newsdesk@thomson.com
bmi/alo/cmr
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|