Climate Change Capital in talks with investors over capital raising

Company confirms in discussions with investors

Climate Change Capital, the low carbon investment manager and advisory firm, has confirmed that is in talks with investors about raising capital.

A spokesman declined to name the potential investors or comment on the reasons for the discussions.

The London-based company manages funds with around $1.5bn (€1.1bn) of commitments.

Climate Change Capital Ltd. posted an operating loss of £3.5m in 2010, compared to a £156,000 loss the year before, according to its 2010 report and accounts. Turnover was down to £16.6m from £23.2m.

In September the firm announced that Chief Executive Shaun Mays would leave, to be replaced in the interim by Chief Financial Officer Mark Macleod.

Existing institutional shareholders include Alliance Trust,Mitsui & Co., SNS Reaal and the Universities Superannuation Scheme (USS).

The firm, chaired by Vivienne Cox, the former Chief Executive of BP Alternative Energy, has two main activities: asset management and advisory, as well as a think tank role. Its funds arm focuses on carbon finance, private equity, real estate and energy infrastructure. The advisory division provides financial, strategic and policy advice to industry, financial institutions, cleantech firms and governments.
Elsewhere, Impax Asset Management Group plc, the AIM-listed environmental fund manager, has announced that its assets under management have risen to £1.98bn. Operating earnings increased 63% to £6.2m while revenue was up 36% to £20.9m.