Four industry funds are among the fund's investors including Local Government Superannuation Scheme ($30 million), MTAA Super ($25 million), Christian Super ($12 million) and Western Australia-based Government Employees Superannuation Board (GESB).
The establishment of the Clean Technology Fund was due to investor interest in sourcing investment opportunities in clean renewable energy products, according to
MFM head of distribution Bruce Murphy.
"Aside from investor interest we also found the investment case and potential returns in this area compelling, largely on the back of significant increases in consumer demand in clean energy, air and water," Murphy said.
The fund will invest in 10 managers over a four year period. The fund is managed by Peter Martenson who is based in the US.
Martenson worked for private equity advisory group Pacific Corporate Group before joining Macquarie. There he was instrumental in developing a US$200 million clean technology portfolio for US pension fund CalPERS.
Investment in clean technology for the third quarter this year in the US and European market totalled US$1.081 billion, according to the association Cleantech Venture Network.
