Arnerich Massena bets $400M on green
By Matt Kish
Business Journal staff writer
Tony Arnerich of Arnerich Massena is betting that green business will deliver investment returns similar to the tech boom.
Editor's Note: The Sustainable Business Oregon special section publishes with the Friday, Sept. 2 issue of the Portland Business Journal. Pick it up to read this story and others on the topic of sustainable investment.
Chris Abbruzzese doesn’t look like a mover-and-shaker in the sustainability movement. His resume is more white shoe than Birkenstock. He worked on Wall Street for major banks such as JPMorgan and Bear Stearns before relocating to Portland and joining the investment firm Arnerich Massena in 2009.
Since then, Arnerich Massena has become a major player in green-oriented investing, steering nearly $400 million into industries and companies ranging from wind farms to green buildings. The firm manages roughly $15.3 billion for a variety of pension funds, institutional investors and wealthy individuals, making it one of the most active investors, among its peers, in sustainable businesses.
Arnerich Massena CEO Tony Arnerich said the sustainable investing strategy isn’t designed to give clients warm, fuzzy feelings about saving the planet.
“This is not about global warming or carbon,” he said.
Instead, the pitch is simple: Imagine if you could wind the clock back to 1980 and invest in technology companies. Arnerich argues that as the world’s resources become more and more scare, companies that offer sustainable products will experience explosive growth. If true, investing in green businesses today could mean fortunes for investors tomorrow.
A $10,000 investment in Microsoft’s 1986 initial public offering, for example, would be worth more than $3.3 million today.
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