Prince Charles launches £1bn sustainable development fund

Prince Charles is setting up a £1bn fund to invest in sustainable developments across urban centres in Britain.

Tellesma will mix offices and residential properties, building on experience gathered from the development of the Prince’s sustainable Dorset village, Poundbury.

Ian Henderson, former chief executive of Land Securities, has been appointed fund chairman and will be joined by Mark Collins as chief executive, formerly Land Securities chief operating officer.

According to the Daily Telegraph the Prince will not have a formal role with the fund but his charity, the Foundation for the Built Environment, will act as consultant.

Investment bank Credit Suisse has been appointed to begin raising money for the fund from Middle Eastern investors.