The Alliance to End Plastic Waste and Geneva-based asset management LOIM have teamed up to eliminate plastic waste with the new fund
The Alliance to End Plastic Waste (Alliance) and asset manager Lombard Odier Investment Managers (LOIM) have unveiled plans to launch a new circular plastic fund.
The fund aims to raise $500m from institutional and other investors for scalable recycling solutions, and expedite the transition to a circular economy for the plastic value chain.
It is aimed to accelerate opportunities in overall waste management, such as collection and sorting infrastructure, technology-enabled recycling infrastructure, and design solutions for improved plastic durability, reuse, and recyclability.
The Alliance will be a major contributor to the fund and has mandated LOIM to develop and manage the fund to achieve beneficial environmental, social, and economic impact while also generating attractive financial returns.
Through a team of experienced professionals, the Alliance will serve as the fund’s technical advisor, providing expert advice on the technical feasibility, commercial viability, and scalability of plastic circularity solutions.
Alliance president and CEO Jacob Duer said: “Our goal in partnering with Lombard Odier in relation to a circular plastic strategy is to grow investments in solutions that can help end plastic waste and contribute to a circular economy.
“The strategy harnesses the collective intelligence of the plastic value chain and connects it with capital, bringing much-needed solutions to scale.
“I am confident this will help focus financial market attention on the investment opportunity that plastic circularity represents, and help to catalyse multiple sources of financing for investments in circular solutions for plastic waste.”
LOIM co-head Jean-Pascal Porcherot said: “LOIM is proud to be partnering with the Alliance to build and manage a ground-breaking fund that addresses the plastic circularity issue with true solutions. This important mandate reflects the shared values between the Alliance and LOIM and recognises our deep expertise and highest credentials in sustainable investing.
“This strategy presents a compelling investment opportunity. It will target opportunities across all segments of the private equity spectrum – including direct and co-investments investments – with the objective to reduce plastic waste issues worldwide and deliver attractive financial returns and sustainability outcomes.”