paine

Quote of the Week: Fishy Business

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April 5, 2012

“Tuna don’t know whether they are in the US, Canadian, or Taiwanese waters. So what you need is a global fisheries policy and global management, and that’s one of the things the World Bank is focused on…”

 

Who said it: Dexter Paine, CEO of private equity firm Paine & Partners

 

Context: In an interview with Forbes’ Electric Eclectic blog about his involvement in the World Bank Group’s Global Partnership for Oceans, Dexter Paine made the above statement. He has become involved with the private and public sector partnership which aims to “bolster ocean health”. Some USD 1.5 billion is hoped to be raised by 2017 for the cause. Paine’s interest is not purely altruistic; his PE fund specializes in food and agribusiness investments. Its USD 1.2 billion portfolio includes Seattle-based salmon and crab processor Icicle Seafoods, according to the article. It also owns fish oil Scanbio Marine Group and a Houston-based environmentally-conscious waste management company for oil and gas producers R360 Environmental Solutions. Paine points out that the World Bank might be able to use its influence, its power, and its lending ability to help create improved global fisheries policy, explaining that for someone, like him, who’s in the fisheries business through investments, “a global policy makes sense and it’s important for our business in the long term.” (Image Source: Paine & Partners;) (Featured Image Source: Icicle Seafoods)

 

Where we found it: Electric Eclectic

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