MRI/Social Investments
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.
The foundation made a commitment to a local venture fund that aims to boost businesses owned by people of color in the region.
The firm has named a sole head of impact investments after the individual had previously held the role alongside another employee who is now focused on investor relations.
The firm will host its inaugural Public and Private Mission Driven Investing Manager Research Day at the end of the fourth quarter and is seeking firms to participate in interviews about their strategies.
The foundation added impact private equity and emerging markets equity strategies with new managers within its endowment in the first half of 2023.