Activist investor Gianluca Ferrari, who has led campaigns against a string of mid-cap firms, is setting up a fund targeting companies lagging on environmental, social and governance (ESG) issues. Ferrari, who made his name pushing for change at companies including EDP Renovaveis and Retelit as part of Frankfurt-based Shareholder Value Management, said his firm, Clearway Capital, aimed to launch its first fund early in 2021. "I'm looking to use the tools we've historically used as activists in order to take advantage of ... valuation discrepancies between highly rated and poorly rated companies, from an ESG perspective," Ferrari told Reuters.
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