BOSTON (Reuters) - Hedge fund industry veteran Chris James, who co-founded technology oriented Andor Capital nearly two decades ago, is launching a new firm that will focus on impact investing at a time these types of portfolios are delivering strong returns.
The firm will launch with $250 million in capital and expects to raise more from institutional and retail investors later, a person familiar with its plans said.
Last year these types of funds performed better than conventional funds, partly because they were underweight energy companies, Morningstar data show.
“Companies that invest in their stakeholders are better, stronger companies as a result,” James, who also founded Partner Fund Management, said in a statement.
Charles Penner, who most recently led activist hedge fund Jana Partners’ effort to push companies to become better corporate citizens, and Jennifer Grancio, a founder of BlackRock’s iShares business, are founding team members.
Chris James, ” James, Charles Penner, Jana, Jennifer Grancio, Ed Sun, David Swift, James, Michael O’Leary, Madeline Hawes
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