MRI/Social Investments
The foundation is looking to allocate to new impact investments this year as part of its three-year impact investment program targeting housing and healthcare outcomes in addition to a return of capital committed.
The foundation made an investment in an initiative that aims to increase capital access for Black/African-American, Latinx, Native American and other people of color-led businesses, nonprofit organizations, financial intermediaries and venture funds.
The council laid out plans to achieve an interim target by 2035.
The foundation is reviewing responses to an invitation-only RFP for an impact investment consultant and hopes to conclude the process by the end of February.
The fund has received an $100 million unrestricted grant to support its capital campaign and will deploy it by building a pooled endowment fund that will increase member institutions endowments by $10 million each.
The agency is looking for firms to help build and implement a bond and direct lending clean energy fund.
The plans added a sustainable equity manager to their lineup in October after initially receiving an ESG/socially responsible product analysis search book in April.
The endowment has issued an RFP seeking companies, funds or projects for its new impact investment program.
The foundation has established a target allocation for impact investments after deliberating on the subject since last year, when it invested in an impact fund.
A foundation based in the Midwest and two managers have put more than $1 billion in capital toward global sustainability and development goals.