England's royal family is doing it part to save the environment while also jumping into private equity, as Prince Charles is starting a £1 billion ($2 billion) property fund, dubbed Tellesma, to invest in eco-friendly projects throughout Britain.
The Telegraph
reports:
The Prince of Wales has appointed investment bank Credit
Suisse to begin raising money for the fund from Middle Eastern
investors. The Prince will not have a formal role with the fund but his
charity, the Foundation for the Built Environment, will act as a
consultant. ... The Prince's Charities, a group of 19 charities including
the Prince's Trust, will own a third of the fund and will benefit from
its profits. The remaining two-thirds will be owned by other investors.
The fund will be run by former Land Securities executives Ian Henderson
and Mark Collins, who will act as chairman and CEO, respectively.
The Telegraph did not reveal its source for the information.
Prince Charles has been a strong advocate of "sustainable communities"
that offer space for both work and recreation. Tellesma will likely
invest in brownfield sites and commercial properties the combine
offices and residential buildings throughout the country.
- George
White
See Daily Telegraph story
