Mr. Steyer sold his ownership stake in Farallon in late 2012, but he has not cut ties with it entirely. He remains a passive investor, his aides said, though they declined to describe the size of his investment. Employees at Farallon screen out any fossil-fuel-related holdings from his portfolio, and he no longer earns a share of the profits from the fund, the aides said.
Farallon is still invested in carbon-generating industries, and the aides declined to say whether Mr. Steyer had asked it to sell those holdings, a request that would presumably hold significant sway given his role as a founder.
Mine - Maules - Creek - Complexities - Mr
The Australian mine, known as Maules Creek, illustrates the complexities of Mr. Steyer’s efforts to distance himself. Farallon was a major investor in a 2009 deal aimed at developing the mine, lending an Australian entrepreneur hundreds of millions of dollars to buy out...
Wake Up To Breaking News!