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Europe's banks are going green as Deutsche Bank AG and Credit Suisse Group each announced Thursday plans to back private equity funds that will invest in renewable energy.
Credit Suisse is committing a minimum of $300 million to Hudson Clean Energy Partners in order to make direct investments in cleantech companies. However, the bank will be more than a simple limited partner in the fund because John Cavalier, the head of Credit Suisse's Renewable Energy investment banking practice, will join Hudson as a partner. The Financial Times reports that Deutsche Bank's private equity unit Deutsche Asset Management is busy raising a fund with an unspecified target that will specialize in climate change investments including technology, agriculture and infrastructure related to alternative energy. Deutsche Asset Management claims that the fund will be the very first buyout vehicle dedicated to cleantech. - George White See Credit Suisse press release See story from the Financial Times CategoriesCommentsPrivate capital video
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I wonder how these funds are doing now, in the aftermath of the financial crisis ?
Does anyone know if these two banks have genuinely green publicly traded mutual funds on offer?
I could include them in my list of green funds here.