The Montreal-based investment firm is building an impact fund made up of public debt, commercial mortgages and other types of loans in the areas of community development, climate change, health and education.
Addenda says it’s the first domestically-focused fixed-income impact fund. The fund is being built to capitalize on the rapid growth of Canadian impact investing — it’s more than doubled in recent years — and a need to diversify impact asset types. Addenda is targeting pension funds and endowments for its new fund.
Addenda Capital has $27 billion in assets under management; $1.4 billion have an environmental or social component.