Carol Ainscow's Artisan is to form a 'green' property fund in a joint venture with Anthony Butler, former head of Deutsche Bank's investment arm Rreef.
The fund, to be called Artisan Investment Management, will specialise in carbon neutral developments.
Butler will become chief executive of the business and plans to raise £100m by the end of the year.
The new vehicle will form joint ventures with Artisan's development business as well as third-party developers.
No-one from Artisan was immediately available to comment.