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28 Jul 2009

'Green' Hedge Fund of Funds Launched by Hedge Fund Veteran

Richard Bookbinder is launching TerraVerde Capital Partners LLC, one of the first “green” hedge fund of funds in the United States. Bookbinder is Managing Member of Bookbinder Capital Management, a New York-based hedge fund of funds, and a founding Principal of Sandler, O’Neill & Partners, L.P.

TerraVerde allocates capital to hedge funds devoted solely to reducing carbon emissions through clean-tech, renewable energy and other environmental sectors such as carbon trading, energy, solar, wind, water, reforestation and more.

“We’re in the early stages of a long-term, multi-generational growth cycle for carbon reduction strategies,” Bookbinder said. “TerraVerde is focused on those green strategies that are capitalizing on the business potential driven by the need for energy security and clean energy use.”

While managing one of Bookbinder Capital’s other hedge fund of funds, Bookbinder studied the emergence of investment opportunities in the “green” space. After an in-depth analysis of the industry, including meeting with hedge fund managers, green private equity funds, scientists, historians, and others, he came to the realization: investment funds with an environmental focus offer sufficient, attractive long-term investment opportunities to dedicate an entire strategy focused solely on the “green” space.

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