Climate Change Capital eyes property fund
London, 14 February: London-based boutique merchant bank Climate Change Capital (CCC) is understood to be talking to investors about a sustainability-oriented property fund, following the appointment of two senior property investment managers.

On Tuesday, CCC announced that Esme Lowe and Tim Mockett had both joined as managing directors.

Mockett – whose experience is primarily in property development – joins from Stow Securities, where he was most recently property director, managing a £200 million ($394 million) portfolio of mixed use, office and retail properties. 

Lowe, with a background in property investment management, was most recently a director of Capital Trust, a property investment firm with around £300 million of assets in Europe under management.

“The value of commercial property will increasingly be driven by sustainability and climate change issues,” said Mark Woodall, CEO of CCC. “The move to create low-carbon buildings will accelerate, and both occupiers and investors will drive this shift, motivated by the desire to reduce energy costs, corporate social responsibility, brand value and the need to future-proof their properties.”

A spokesman for the bank declined to comment on whether the hires signalled a move into the sustainable property investment market. However, some of the investors in CCC’s existing funds are understood to have been sounded out about such a vehicle.

CCC offers carbon finance, managing €800 million ($1.17 billion) in carbon funds, asset management – with a €250 million clean-technology fund – and corporate finance and policy advisory.