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The Brief | July 15, 2026

Greetings, Agents of Impact!  ☎️ Today’s Call: Crafting a positive agenda for faith-based investors. Can faith-aligned investors become known for what they are

Today’s brief

Featured: Impact Secondaries

Liquidity for sellers and discounts for buyers in the budding impact secondaries market. Earlier this year, Manan Mehta of Unshackled VC received a call from Gratitude Railroad, the asset manager and impact network. Did the venture firm have any limited partners that were itching to sell their positions? Unshackled, which backs early-stage impact-focused startups with immigrant founders, did have a few LPs interested in selling stakes in an earlier fund, as is the case for many emerging managers. Within months, Gratitude Railroad had analyzed Unshackled’s portfolio and purchased two stakes, one from a high net-worth LP and the other from a venture capital firm. “My job, as a steward of LP capital, is to constantly give my LPs the option to rebalance and realign,” says Mehta. Call it secondaries, impact-style. Unshackled “is a good fit for our inclusive capital strategy,” Rebekah Saul Butler of Gratitude Railroad tells ImpactAlpha. “It’s a fund we are excited about bringing into our portfolio and community.”

Dealflow: Infrastructure Week

CalSTRS anchors Nuveen's sustainable infrastructure credit strategy. Data centers, reshored factories and an electrifying economy are putting immense pressure on the US grid. One of the country's largest public pension funds, the California State Teachers' Retirement System, is committing up to $2 billion to building up the US's clean energy supply in partnership with the asset manager Nuveen. CalSTRS is anchoring Nuveen's second Energy and Power Infrastructure Credit fund with an investment of undisclosed size. The fund, which is targeting $2.5 billion, reached a $1.3 billion first close a year ago with backing from Nuveen's parent company TIAA, Canadian, Japanese and Korean pension funds, and global insurers. The agreement also gives the $408 billion CalSTRS the option to invest in future funds from Nuveen's energy infrastructure credit group. 

Agents of Impact: Follow the Talent

Purpose Foundation, a nonprofit that advocates for steward ownership, is launching SO Capital and looking for a managing partner to develop and lead a steward-owner business investment strategy (see, “‘Purpose trusts’ power a business movement toward broader ownership and stakeholder governance”)... Elemental Impact is looking for a director of data strategy and insights… CrossBoundary Group seeks an investment associate or analyst for its Fund for Nature… Aruwa Capital Management is hiring a principal in Lagos… Colorado Health Foundation is recruiting a senior director of impact investing. 

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