LONDON, June 8 (Reuters) - Asset manager Just Climate said on Thursday it had raised $1.5 billion for its inaugural fund after strong demand from institutional clients including Microsoft’s Climate Innovation Fund helped it beat the original target of $1 billion. Established by Generation Investment Management, Just Climate aims to focus investment on the sectors where cutting greenhouse gas emissions is hardest to do, such as cement, shipping, industrials and land use. The firm's initial fund, Climate Assets Fund I, will focus on helping companies with proven technology scale their business to a level to attract more risk-averse investors. "Proven, transformational climate solutions are being developed to decarbonise the industrial sectors. Among other investors to back the fund include IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, California State Teachers’ Retirement System, and Colonial First State Investments.

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Persons: Shaun Kingsbury, Kingsbury, Clara Barby, Simon Jessop, Lisa Shumaker Organizations: Innovation Fund, Generation Investment Management, Climate, IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, Colonial, Investments, ABB, Meva Energy, Thomson Locations: California