The deal is the first investment to be made by a new partnership formed by Canada’s second-largest pension fund and the investment firm co-founded by former U.S. Vice President Gore and former Goldman Sachs Group Inc. partner David Blood. The duo plan to deploy US$3 billion initially for investments with an 8- to 15-year duration, taking a longer view than the typical private equity deal. The FNZ agreement adds to a surge in fintech transactions, which totaled more than US$39 billion in the first half amid investments in payment processing, financial data and machine learning, according to a report from advisory firm Hampleton Partners.

https://business.financialpost.com/news/fp-street/al-gores-generation-caisse-near-deal-for-fintech-firm-fnz