Luxembourg-based asset management firm Althelia Ecosphere has announced plans to launch its Sustainable Ocean Fund, a new public-private partnership dedicated to making impact investments into marine and coastal projects and enterprises that can deliver sustainable fisheries, marine conservation, improved livelihoods and economic returns. Through the fund Althelia intends to deploy approximately $100 million across a portfolio of between ten and 15 investments into sustainable marine-based projects with a focus on developing countries, it said. The fund will invest in real assets and projects that deliver improved management of coastal fisheries, sustainable aquaculture and promote responsible seafood supply chains. "The fund is dedicated to providing investors with a market return on their investments and to bring positive environmental, economic and social outcomes for the people who rely on these fisheries for their livelihoods," said Althelia. Target impacts include improved food and climate security, increased and stabilized fish stocks and marine habitats, improved livelihoods and economic value for local stakeholders as well as biodiversity and conservation gains. An initial portfolio of target investments has been identified in Latin America, Africa and Asia, it said. Conservation International has provided funding to help launch the Sustainable Ocean Fund and to support due diligence of the investment pipeline, along with its associated supply chains. "Building on the success of our Climate Fund, the new Sustainable Ocean Fund will allow us to direct meaningful investments to support sustainable fisheries over the long term, thereby accelerating the transition to a sustainable model," said Simon Dent, partner at Althelia Ecosphere. Conservation International as well as Environmental Defense Fund are engaged as strategic partners for the Sustainable Ocean Fund, bringing understanding of the science, technical and policy facets of sustainable fisheries.
Asset manager Althelia Ecosphere plans to launch a public-private private partnership that will invest in projects that benefit oceanic ecosystems and economies. The Sustainable Ocean Fund will identify marine and coastal projects and enterprises that support sustainable fisheries, marine conservation, improved livelihoods and economic returns. The Luxembourg-based fund will allot $100m through 10 to 15 investments with an emphasis on developing countries. "Sustainable Ocean Fund will allow us to direct meaningful investments to support sustainable fisheries over the long term, thereby accelerating the transition to a sustainable model," said Simon Dent, a partner at Althelia Ecosphere.