Hedge Fund Focused on ESG Launched by Canadian Market Veterans

A group of government and markets veterans have started a hedge fund that will invest only in companies that promote positive environmental, social and governance policies -- and bet against those that fail to do so.

Nordis Capital, based in Montreal, will launch with C$34 million ($26.6 million) and plans to raise C$100 million within the next year, according to Chief Investment Officer Francois Bourdon. The fund will bet against companies, including Facebook parent Meta Platforms Inc. and Brazilian oil producer Petrobras, by short selling their shares.

“We’re not social justice warriors,” Bourdon, who until last year was ...