Good Business
Hedge Fund Veteran Chris James to Start Impact-Investing Firm
- ‘Shareholder and stakeholder interests align,’ he says
- Engine No. 1 is expected to raise outside capital next year
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Chris James, who co-founded one of the biggest technology hedge funds in the early 2000s, is starting a firm to invest in companies that can have a positive impact on society and the environment.
Engine No. 1 will press for change in the public and private companies it invests in, according to a statement Tuesday. A company’s ability to create long-term shareholder value depends on the investments it makes in workers, communities and the environment, the San Francisco-based firm said.