MRI/Social Investments
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.
The foundation has tabbed its v.p. of community strategies to serve as its first chief impact officer and manage its impact investments.
The foundation has committed to achieving net-zero greenhouse gas emissions for its endowment by 2050 and the strategy centers on investment in climate solutions and other climate-focused strategies as well as engagement with asset managers and others on data, disclosures and decarbonization plans.
The foundation is aiming to allocate at least 5% of its portfolio to emerging managers, while also looking to add climate-solution investments as it looks achieve a net-zero endowment by 2030.
The firm has completed an initial close of its fund targeting sustainably managed forestlands with more than $200 million in commitments.
The foundation is looking to allocate a portion its investment portfolio to impact investments and has named a team member to spearhead the effort.
The global asset manager raised nearly $3 billion from institutional investors for its second private equity fund focused on impact investments.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The foundation made its first-ever mission-related investment with an equity investment in a small business investment company that provides growth equity to minority- and women-owned businesses in the region.