Constitutional Reserve Fund of Monaco committed $20 million to Lombard Odier Investment Managers' Plastic Circularity Strategy, according to a news release Wednesday.
The private equity strategy invests in companies that can facilitate plastic recycling across packaging, textile, construction, transportation and electronics.
The Plastic Circularity Strategy invests in collection and sorting infrastructure, technology-enabled recycling infrastructure, design and production solutions for improved recyclability and new usage models that extend the life of plastics, the news release said.
Monaco's sovereign wealth fund has $6 billion in assets, according to data firm Global SWF.
A spokeswoman could not be immediately reached to comment about the investment.
