Industry veteran Martin Gilbert has invested his personal cash into an environmental, social and governance focused asset manager run by former Aberdeen colleague Brad Crombie.
Alquity announced today (January 14) it has received financial backing from Mr Gilbert, former chief executive and co-founder of Aberdeen Asset Management, as it eyed substantial growth.
The London-based firm is a responsible investment manager which links listed equities and impact, aiming to connect investors to their investments and to social progress.
It is run by Mr Crombie, former global head of fixed income at Aberdeen Asset Management, now part of Standard Life Aberdeen.
Mr Gilbert said: “I have known the Alquity team for many years – they are tried and tested.
“There’s no doubt their expertise on the connection between listed equities, high quality ESG and impact is going to become even more significant over the next ten years – for investors and for the industry.”
Alquity has also entered a strategic partnership with fellow ESG asset manager East Capital Group and secured backing from seed stage investor Investible.
Mr Crombie, chief executive of Alquity, said: “What is critical for our business is the bridge between listed equities and impact.
“We conceived of this approach ten years ago and now, supported by our partnership with East Capital Group and the backing of the founders of Investible and of Martin Gilbert, we want to start scaling billions of dollars of listed investments towards impact.
“This will bring benefits to companies and communities, to our clients and our shareholders.”
ESG investing has boomed in popularity in recent years as fears over climate change have led investors to consider the impact of their money and as a growing number of millennials have begun investing.
2020 saw a record year for ESG inflows, and fund houses have been quick to capitalise on the growing interest with numerous portfolio launches.
Mr Gilbert has appeared in the asset management space on multiple occasions since stepping down as chairman of Aberdeen Standard Investments in May last year.
He has joined the board of challenger fintech bank Revolut, London-based private family office Saranac Partners, and River and Mercantile.
Last week, Sky News reported Mr Gilbert had taken a stake in listed cash shell AssetCo.
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