SINGAPORE (Dec 4): For some money managers, closing a US$100 million ($136 million) fund would be akin to reeling in a big fish. For Rob Kaplan, it’s just the bait.

Kaplan, a former Walmart Inc. executive, plans to invest the US$106 million he’s raised from some of the world’s biggest plastics makers in companies that promise to prevent trash from ending up in the oceans.

Targets include waste and chemicals recycling firms, and Kaplan hopes the private equity-style investments will one day yield double-digit returns -- the sort that could entice heavyweight institutional investors and pension funds to plow in money of their own.

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