Posted on 18/11/08
Diamonds in the dirt
When Kenneth Tanenbaum started raising the Kilmer Brownfield Equity Fund in early 2006, he knew he'd found a niche. While other infrastructure funds were piling into roads, bridges and utilities, Toronto's KBEF would specialize in Canadian brownfields:contaminated sites with second-life potential. The market liked Tanenbaum's pitch, not to mention the fact that KBEF parent company Kilmer Van Nostrand Co. had already kicked in $20 million. Tanenbaum and his fellow managing partners closed the fund last December with $100 million in assets, most it from institutional investors.
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