MRI/Social Investments
The agency has issued an RFQ seeking investment managers to launch a $50 million venture capital fund targeting startups in a Midwestern state.
The foundation is looking to add more private equity, real assets, special situation and impact-focused investments this year.
The firm hired an individual for the newly created role to develop impact equity strategies for clients.
By now, most know that less than 2% of the U.S.-based investment management industry’s $82 trillion in assets is handled by diverse managers. Maybe less know that historically Black college and university endowments make up an even smaller percentage of higher education endowments nationally.
The fund made an undisclosed commitment to an impact fund focused on Black- or Latinx-owned entrepreneurs and businesses in the St. Louis-area.
Social justice funds addressing diversity, equity and inclusion are gaining traction with a growing base of institutional investors, leading asset managers to develop and offer solutions that invest in companies and communities that support people of diverse backgrounds.
The institution expects its exposure to climate transition solutions to exceed exposure to fossil fuels in the coming years as investment activity in climate transition ramps up and fossil fuel exposure winds down.
The college announced it will eliminate all direct holdings of fossil fuel companies and will not make new investments in private funds that focus exclusively on oil and gas extraction.
The treasurer’s office has selected an investment advisor to handle its infrastructure fund in a non-discretionary fund-of-funds structure following a search.
The foundation’s affordable housing impact has raised $13.5 million, exceeding its initial five-year fundraising goal.