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Retired HF Manager Supports Green Cause

Apr 04, 2013
Jing Chen

Retired hedge fund manager Tom Steyer is pledging to donate a part of his fortune to back politicians who will help combat climate change.

Steyer, the founder of Farallon Capital Management, told The Hill that he wants to make climate change a campaign issue for years to come. The article also said that Steyer is also aiming to make Democratic support for climate and environmental protection as prevalent as the party’s support for same-sex marriage.

Steyer quit his post at Farallon last year to devote his time to environmental causes. The billionaire, who is worth at an estimated $1.4 billion, has already contributed millions to various charities that work on climate change issues and is planning to invest additional millions of dollars to back candidates who support the cause in political races.

Steyer stepped down from the top post at Farallon, one of the biggest hedge funds in the world with approximately $21 billion in assets, at the end of 2012. He was replaced by Andrew Spokes.

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