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Hedge Fund Veteran to Bet on Climate Change’s Winners and Losers

  • Dureka Carrasquillo starting new fund at AllianceBernstein
  • Industry veteran previously ran money for Canada Pension Plan
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JPMorgan's Magee on Low-Carbon Transition

When Dureka Carrasquillo took to the stage at a hedge fund event three years ago, she tipped buying supercar maker Ferrari NV for a bumper profit. The bet proved prescient for the ex-Canada Pension Plan Investment Board manager, but it likely won’t be found in her new fund.

Carrasquillo and her former CPPIB colleague Savironi Chet have joined AllianceBernstein Holding to start a hedge fund called 1.5 Degrees, named after scientists’ warning that the Earth could warm by that much within the next two decades. The long/short equities fund is expected to start trading this quarter, according to an investor document seen by Bloomberg.