LONDON (Thomson Financial) - Generation Investment Management, the private equity fund chaired by former U.S. vice president Al Gore, has acquired a 9.5 percent stake in Camco International Ltd, a carbon asset developer.

Generation, set up in 2004 by Gore and David Blood, former chief of Goldman Sachs's asset management arm, now holds 16 million Camco shares, Camco said in a statement.

Camco, which has one of the world's largest carbon credit portfolios, works with companies to identify and develop projects that reduce greenhouse gas emissions and then arranges the sale and delivery of carbon credits.

monicca.egoy@thomsonreuters.com mbe/cmr

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