ESG ALPHA
New Approaches in Socially Responsible Investing
For companies and funds, for which a web link is provided, please be aware that you are leaving
the ESG Alpha website for other websites any time that you use these links and that ESG Alpha
is not responsible for the content on these websites.

ESG Hedge Funds
Listed below are the firms that have ESG related hedge funds and/or advisory firms.  Note that
companies are restricted in their ability to market hedge funds. Shares can only be offered on a
private placement basis and there can be no public offering, general solicitation or general
advertising.  As a result these sites will typically not mention hedge funds as a product offering.   
Please contact respective firms directly if you are considering investment.  Keep in mind that
you must be either an accredited investor or qualified purchaser to invest in hedge funds.

Ardsley Partners - Long/short renewable energy fund
Civic Capital Group LLC - ESG long/short fund
Christian Brothers - CUIT Market Neutral Catholic Values Fund
Coolum Strategus SRI Fund - Long/short European social and environmentaI fund
Dover Corporate Responsible Management, LLC - Governance long/short fund
Eco-Vest Advisors, LLC - Environmental hedge fund
Gamco SRI Partners - Catholic values fund
Green Cay Asset Management - Manages several ESG related hedge funds
Man Group - Launching a number of alternative energy hedge funds
Minlam Asset Management - ESG long/short Fund
Morley SRI Long/Short Fund - European SRI hedge fund
New Energy Fund LP- Alternative energy hedge fund
Salient Capital - Salient/Bass Brothers socially responsible multi-strategy
hedge Fund
Shariah Funds - Islamic hedge fund
Winslow Management Company - Environmental hedge fund


ESG Hedge Fund of Funds
Fund of Funds diversify investment across a range of hedge fund products and styles.

Good Steward Fund - Catholic Values Fund of Fund


Microfinance Investment Options
Calvert Foundation Community Investment Notes - Investors with as little as $1,000 can earmark
notes to be invested in microfinance initiatives.
Oikocredit USA Global Community Note - Investors with as little at $1,000 can invest in notes.  
The capital raised is used to help finance various microlenders.  
MicroVest I Fund - This fund is only available to accredited investors with a minimum investment
of $100,000.  The fund makes both debt and equity investments in microlenders.
Accion Investments - This fund is only available to accredited investors with a minimum
investment of $250,000 and makes equity investments in microlenders.

Private Equity
Massachusetts Green Energy Fund
Commons Capital
Expansion Capital Partners

Other Investment Vehicles
Bank of China Sustainable Growth Equity Fund - Chinese SRI Long-only Fund


Relevant SRI Publications
Corporate Governance and Equity Prices by Gompers, Ishii and Metrick examines the potential
for alpha generation using governance factors in a long/short context.

Corporate Social and Financial Performance by Orlitsky, Schmidt, and Rynes is a
comprehensive and rigorous meta-analysis of the relationship between ESG factors and
performance in a long only context.

Discovering New SRI Institutional Investment Opportunities by Anne-Marie Smith which provides
an overview of SRI alternative investments for European investors.

The Eco-Efficiency Premium Puzzle by Derwall, Guenster, Bauer and Koedijk examines the
potential for alpha generation using environmental factors in a long/short context.

A Legal Framework for the Integration of Environmental, Social and Governance Issuesues into
Institutional Investing by the international law firm Freshfields, Bruckhaus, Deringer examines
the legal rational for examining ESG factors in ones role as a fiduciary.


Other SRI links
Aquillian Investments, Inc. - an ESG related private placement and investment
consulting firm
Asria - a resource for Asian ESG related investment
Microfinance Gateway - a comprehensive resource online resource for the microfinance industry.
SocialFunds.com - a personal finance website with information on ESG mutual
funds, community investments, corporate research, shareholder actions, and
daily social investment news.
Social Investment Forum -  a national nonprofit membership organization
promoting ESG investing.  The site offers comprehensive information,
contacts & resources on ESG investing.
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