Interview with Andrew Springer, CFA, Founder of Resolve Capital

Posted on 03. Nov, 2009 by in Entrepreneurship, Interviews


Andrew Springer, CFA founded Resolve Capital Partners LLC in 2005, a sustainability-focused hedge fund management firm. The firm’s flagship fund, the Resolve Eco Fund, is managed by Pamela Schwab and was opened up to outside investors in 2009, but had been running with proprietary capital since December 2005. The long/short fund focuses on companies that provide solutions to environmental, social, health and economic problems. The bulk of this interview focuses on the investment strategies of their Resolve Eco Fund.*

OG: What are you looking forward to most about the conference? Have you gone in years past?

Andrew: I have been in past years, and what I like most is that the variety of companies is pretty diverse. There’s a great representation, particularly of CPG’s and tech companies.

OG: Any great stories from past Opportunity Green conferences?

Andrew: Yes, I learned about Casa Barranca wines! I love their wines.

OG: How do you incorporate Environmental, Social, and Governance factors into your ROI expectations?

Andrew: we take our investment decisions on a case-by-case basis, because its hard to find pure-play investments in the sustainability area we operate under. We’re investors first, with core values that match environmentalist’s. While hedge funds are perceived as being more aggressive than mutual funds, we have a long-term philosophy, so we’re more like investors than traders. But we’re different than a mutual fund because we will short a stock if we think it makes sense. We use investments and public securities to express our confidence that the world will become more committed to sustainability.

OG: So do you limit your investments to publicly-traded companies? Considering how quickly technology is developing in this field, do you keep an eye on pre-IPO companies as well?

Andrew: we do keep an eye on pre-IPO firms, and we are allowed to invest a portion of our portfolio in private companies. The majority are publicly-held, though. While not necessarily investing in IPO’s, we do have some early-stage holdings.

OG: Resolve Capital invests in companies that “provide solutions to environmental, social, health and economic problems.” For example, Wal-Mart is considered both the most and least sustainable company, often by the same person. So how do you weight your selection criteria, and the pros & cons of a company under consideration?

Andrew: That’s a good question. It’s a combination of a number of factors- some include how the company is likely to be affected by regulation, the perceived value of the company, or whether it’s providing a disruptive technology. It’s tricky to describe. We do all we can to avoid greenwashing. I’ve found we can usually tell which ones are greenwashing, because they’ll have a mention in their marketing materials, but nothing at the bottom line.

This is a good point about Wal-Mart, because Wal-Mart is doing some really good things, they are the company to be watched. But you also want to invest in companies that might not be the greenest right now, but will be making a focused investment in next few years.

OG: Do you focus on American companies, or is it a more global fund?

Andrew: Global for sure.

OG: So you also run Resolve Inc., a hedge fund operations consulting firm and Hedge Port Associates, an investment advisor platform for start-up hedge funds, both of which enable fund managers to benefit from your operational expertise. Do you also help them incorporate ESG factors into their investment criteria?

Andrew:  We would, if given the right opportunity, but for the most part, we don’t cross-pollinate. Each fund manager operates independently. They might talk to each other, but we let them do what they’re going to do, we don’t judge how they make their investment decisions, or their strategies. Operationally we try to be sustainable, with paperless statements, recycling, etc. We lease in this building because they’re making great strides to be as environmentally responsible as possible. I was very careful to select an environmentally responsible building.

* Bio courtesy of

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