Hedge Funds

Passport opens renewable energy fund

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Passport Capital began trading a fund on February 1 that focuses on renewable energy.

Passport Capital Renewable Energy Strategy buys shares in companies that manufacture components for wind, solar, hydroelectric, energy conservation technologies and other types of clean energy. Core portfolio holdings include suppliers and companies that make finished products, such as solar panels. The fund will also be able to allocate up to 20% of its assets to private investments, which will be contained in a side pocket.

The fund replicates a renewable energy component within Passport Capital Energy Strategy, which was launched on December 1. Passport introduced