RNS Number : 4830Y
Man Group plc
07 July 2008
Man launches a new environmental fund
Man Group, one of the world's leading alternative investment firms, today announces that
it has entered into an agreement to launch a
new environmental fund. The MENA Associated Gas and Global Environment Fund (AGEF) is to
invest in projects to capture associated gas from
crude oil production, which have customarily been flared, and use it to generate electricity
and other products.
Abu Dhabi Government-owned International Petroleum Investment Company ('IPIC') has
committed to invest an initial USD 300 million as
cornerstone investor and will play a major role in the development of the fund which aims to
raise an initial USD 1.5 billion.
MTM Capital Partners Limited, a subsidiary of Man, will be the investment manager of the
fund. In addition, Fluor Cooperation, one of
the world's largest engineering, procurement and construction firms and a FORTUNE 150 company
will be the fund's technical partner.
Peter Clarke, CEO of Man Group, said Man expected investor support from around the globe."MTM is a leader in environmental investments
in emerging markets and there is a keen appetite for investments that help protect the
environment while aiming for very attractive
returns," he said.
Mr Clarke hailed the support of the Abu Dhabi Government as financially significant and
environmentally responsible. He said the fund
would be the first of its kind to team a global financial institution with a government that
is a major player in the energy sector.
The launch of AGEF will be a further significant step in Man's commitment to
environmentally-related projects.
ENQUIRIES
David Browne
Head of Group Funding & External Relations
+44 207 144 1550
david.browne@mangroupplc.com
Miriam McKay
Head of Investor Relations
+44 207 144 3809
miriam.mckay@mangroupplc.com
Merlin PR
Paul Downes
+44 7900 244 888
Paul Farrow
+44 7747 607 768
About Man Group plc
Man is a world-leading alternative investment management business. With a broad range of
funds for institutional and private investors
globally, it is known for its performance, innovative product design and investor service. Man
manages over $78 billion and employs 1,600
people in 13 countries worldwide.
The original business was founded in 1783. Today the parent company, Man Group plc, is
listed on the London Stock Exchange. It is ranked
in the top 40 companies of the FTSE 100 Index with a market capitalisation of about $20
billion.
Man supports many awards, charities and initiatives around the world, including
sponsorship of the Man Booker literary prizes and the
Man Group International Climate Change Award.
Further information can be found at www.mangroupplc.com.
About MTM
MTM Capital Partners Limited is a UK investment management company regulated by the
Financial Services Authority. It is a subsidiary of
the Man Group and makes direct principal capital investments into sectors that result in the
efficient and safe utilisation of resources and
the reduction of environment damaging emissions. MTM is positioning itself to play a lead role
in the converging energy, resources,
infrastructure and environmental sectors.
About IPIC
IPIC is an investment company wholly owned by the Government of Abu Dhabi with a mandate
to invest on behalf of the Government of Abu
Dhabi in the hydrocarbon sector outside of the Emirate of Abu Dhabi. For over 20 years IPIC
has successfully invested in and developed long
term strategic partnerships with energy companies in both the private and public sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
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