.png)
A flare stack lights the sky from the Imperial Oil refinery in Edmonton. A carbon market in Canada’s oil -rich Alberta province is getting an injection of speculative money from an asset manager jockeying to become a top investor on a platform dominated by energy firms. Article content Durum Capital Inc. agreed to boost its holdings of carbon credits to more than 400,000 from 22,000 via two limited partnerships, according to Spencer Gordon, vice president of the Calgary-based firm. The purchased credits, to be delivered by the second quarter of next year, may put Durum among the 15 largest holders in the market, he said. The deal is funded with a $15 million private sale by Wellington-Altus Private Wealth Inc. and $6 million from other investors. “We really like these carbon credits that have a lot of value going forward,” said Gordon, who also oversees the firm’s Durum Carbon fund. “We do expect that value to increase as the carbon pollution price increases. It’s just part of the shift we are seeing of this really becoming more mainstream.” Article content Durum’s purchase marks a major shift for a 15-year-old market that is mostly the domain of a few dozen […]
CamTrader offers a preview only. View original article. financialpost.com
