FAST FIVE: Quant Legend Seeks $1.5 Billion For New Fund Dedicated To Fighting Climate Change
Vogel has reportedly spent years closely studying data pertaining to climate change, and is also extremely passionate about the issue: He also runs a nonprofit focused on studying the effects of climate change.
According to Bloomberg, Vogel's biggest challenge will be selling the fund to Wall Street: Just 23% of hedge fund managers surveyed by JPMorgan Chase & Co.
said they believed ESG principles will help them outperform.
But cagey investors might spot another problem: Vogel's 70-man firm is based in Jupiter, Fla., which is situated along the state's Atlantic coast. If one believes Greta Thunberg & Co., that city will be underwater in a decade or two.
For somebody who's trying to sell a fund based on the idea of capitalizing on climate change, he sure doesn't seem too worried about it's impact.