Launches Pana LCE Fund 1
Pana LCE, an investment firm dedicated to providing risk-adjusted absolute returns through targeted investments in businesses that are committed to a low carbon economy, announced today the launch of Pana Low Carbon Economy (“LCE”) Platform, and Pana LCE Fund 1. The new platform will provide institutional and private investors access to Pana’s proprietary investment process across the ESG landscape.
Pana LCE was founded in 2019 by Caroline Abramo, an investment industry veteran with nearly 3 decades of experience at premier firms including Lazard Asset Management, Enron, Carlyle Group, BNP Paribas, Deutsche Bank, Credit Suisse and Kimura Commodity Trade Finance.
Based in New York City, Pana LCE already boasts a full team of research analysts and portfolio managers serving family offices, endowments and global institutions, with experience in real asset investment across multiple sectors, including agriculture, energy, water, and waste. Pana LCE expects to soft close at $2B Assets Under Management.
Commenting on the new platform, Ms. Abramo said:
“I started Pana LCE as a manifestation of my life’s work. Preserving the earth’s limited resources demands transitioning capital to an LCE. I’ve arrived at this conclusion supported by nearly 30 years of research as a commodity trader and investor through cycles including peak oil, the US shale revolution, trade wars, subsidies, and the ever-present uncertainties of weather, geopolitics, and now a global pandemic.”
Ms. Abramo added that while investors previously haven’t had the data to support the thesis that an ESG portfolio could outperform a multi-asset portfolio exposed to similar sectors, Pana LCE has “proven that altruism and capitalism are not mutually exclusive.”
Michelle McCloskey, former President of Americas for Man Group and Senior advisor to Pana LCE, said:
“The ESG investing space has matured considerably since the 2000s, when it was seen as ‘nice to have.’ ESG is now being seen more clearly as both an opportunity and a definitive risk if ignored. Altruism or not, ESG investments have the growth potential to be an essential and highly performing element when evaluating all types of securities.”