Al Gore’s Investment Firm Gets $1.5 Billion for New Venture (1)

A venture started by Generation Investment Management, the asset manager co-founded and chaired by Al Gore, has raised $1.5 billion for its first climate fund after drawing in some of the world’s biggest institutional investors.

California State Teachers’ Retirement System (CalSTRS), Canada’s PSP Investments and a unit of Goldman Sachs Asset Management are among firms allocating capital to the fund launched by Just Climate, according to a company statement issued Thursday.

The Climate Assets Fund 1 will invest in growth-stage industrial companies, “which have the potential to deliver transformational climate impact across some of the highest-emitting, hard-to-abate industries,” ...