“Clean-tech investing has got an L-curve for ‘lose’.”
From today’s Wall Street Journal, Calpers chief investment officer said at the recent ECO:nomics conference:
We have almost $900 million in investment expressly aimed at clean tech. We’re all familiar with the J-curve in private equity. Well, for Calpers, clean-tech investing has got an L-curve for “lose.” Our experience is this has been a noble way to lose money. And we’re not here to lose money.
We have dialed back. I think there’ll be another run at it [clean energy]. Maybe we’ll be wiser.