Global: Impact investing is continuing its “march into the financial mainstream”, according to Margaret Trilli, CEO of ImpactAssets, which this week published its latest ImpactAssets 50 list. Now in its 14th year, the global database of impact investment fund managers includes 165 experienced and emerging impact investment fund managers, the highest number to date with a total of US$130.6bn of assets under management, a 35% year-on-year increase. A total of 24 of the managers on the list have reached ‘institutional scale’ with US$1bn or more in assets under management, up by one-third compared with two years ago.
Australia: An Aus$4.2m first-of-its kind fund opened for applications this week, offering social enterprises affordable, patient finance. The Social Enterprise Loan Fund will supply loans of $100,000-$500,000 for up to seven years at a minimum rate of 6.5%. Investors include the Australian government, the Victorian state government, Westpac Foundation and Macquarie Group Foundation. Westpac has committed $1m in first-loss capital and an additional $500,000 to support operational costs during the first two years. The fund was created by White Box Enterprises, which supports social enterprise development, and is managed by White Box Finance. “The SELF could set a precedent for future impact investment in Australia,” said a spokesperson for White Box Enterprises.
UK: Key Fund has stepped in to take over three social investment funds run by Greater Manchester Centre for Voluntary Organisations which went into administration in November after facing “significant financial difficulties”. The north of England-based social investor has taken on management of GMCVO’s Growth Fund, Enterprising Communities Fund and Proper Good Investment Fund.
Canada: Incoming Canadian prime minister Mark Carney is on the record as a supporter of impact investment and climate action. Speaking at an Impact Investing Institute event in 2020, the former Bank of England boss said: “Impact investing can turn what can appear at first to be insurmountable problems into tremendous commercial opportunities.” He is also currently UN special envoy on climate action and finance and has said that investing in net-zero was “the greatest commercial opportunity of our time”. Top of his to-do list, however, is likely to be the current trade tensions between Canada and US president Donald Trump.
|
|
