Mar 13, 2023
Bill Orum is a Partner at
Capricorn Investment Group, one of the largest and longest standing
mission-aligned investment organizations. Capricorn oversees $9
billion across three distinct but related investment strategies -
an OCIO serving families and foundations, a seeding business that
backs impact asset managers, and the Technology Impact Fund, a
venture capital fund focused on clean technology and climate
solutions.
Bill joined Capricorn twenty years ago in the firm’s infancy with
the mission to deliver extraordinary investment results by
leveraging market forces to scale solutions to global problems with
a focus on the climate.
Our conversation covers the establishment of an investment program
to match the Capricorn’s mission, universe of available investment
opportunities to address climate solutions, and Capricorn’s
strategy to implement. We discuss seeding new funds, venture
capital, emerging markets, public markets, current opportunities,
and the potential for a long-term solution for the
world.
Show Notes:
(6:16) Bill’s background
(8:25) Climate focus at Capricorn
(14:50) Broad landscape of climate solutions
(18:44) High impact levers
(21:59) Capricorn’s hybrid approach
(26:20) Diligence for new managers
(28:26) Backing managers with scale
(31:23) Climate solutions in emerging markets
(33:19) Social challenges in climate change
(37:16) Measuring climate risk
(40:59) Economic returns and reducing emissions
(43:55) Lessons from investing in climate solutions
(45:35) Complications with ESG assets
(48:25) Factors affecting fund flows
(51:11) Optimism for the future
(53:21) Closing questions
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