Al Gore fund quadruples its profits to £32m

AN investment fund set up by former US Vice President Al Gore and Mark Ferguson, the son of Manchester United manager Alex Ferguson, saw its pre-tax profits almost quadruple last year to £31.9m, according to accounts filed in Companies House.

Generation Investment Management – which was launched in 2004 under the guidance of the former chief executive of Goldman Sachs Asset Management David Blood – saw its sales rise to £46m from £19m a year ago.

Last year the business made its first profit of £8.6m.

The fund is a long-term investor in green and low-carbon businesses around the world.