The spinoff from hedge-fund specialist Moore Capital Management sets up shop with backing from its progenitor
Recently formed Renown Capital Partners aims to put together a $500 million debut fund to invest in businesses helping utilities and other companies deal with the shift to clean energy, the challenges of which were illustrated by recent power blackouts in Spain and Portugal.
The New York-based firm is halfway there, after securing $250 million for the fund, Renown Capital Partners I, from investment firm Moore Capital Management and publishing company Daily Mail & General Trust in London. Both investors also own stakes in Renown, said James McIntyre, the firm’s managing partner.