Bank looks to invest green in green business

Sept. 25

There´s $100 million out there looking for a green home.

Environmental Capital Partners LLC said it formed a relationship with New York Private Bank & Trust to invest the cash in middle market green companies, including those involving consumer products, building materials, alternative energy and industrial environmental services.

Environmental Capital, newly formed by former National Hockey League goalie Michael Richter, is seeking deals that require investments ranging from $10 million to $25 million, but said it could complete larger deals.

New York Private Bank & Trust calls itself the largest privately owned bank in the country. Environmental Capital is a private equity firm.

"ECP excites me because our mission extends beyond a desire to simply participate in the economic growth of the environmental sector," Richter said. "Each member of the team is absolutely committed to the goal of environmental sustainability."