Another European pension fund launches SDG and green bond funds

Luxembourg’s €17.1 billion ($20 billion) public pension fund is the latest to join the trend among European pension funds and institutional investors to align investments with the U.N.’s Sustainable Development Goals. Luxembourg’s Fonds de Compensation is developing a €50 to €100 million equity fund aligned with the SDGs and a green bond fund of the

Peterborough social impact bond becomes a proof point

By Dennis Price and David Bank Fewer prisoners are returning to prison in Peterborough, England. That represents a success for the city, the ex-offenders, and the investors who backed the world’s first social impact bond, which financed a comprehensive post-release program. Social impact bonds have so far generated more breathless expectation than actual capital. The success

U.K. boosts funding for battery research and development

The U.K. government is allocating £246 million ($321 million) for battery technologies. The U.K.’s energy regulator Ofgem is laying plans for a national smart electricity grid. Increased battery storage will be key to ensuring that vulnerable and low-income customers benefit, according to business secretary Greg Clark. “If only we can capture [solar and wind power]

New French and Spanish funds for investing in the 2030 global goals

Bankia, the fourth largest bank in Spain, is building a fund (paywall) open to retail and institutional investors around companies focused on poverty alleviation (SDG №1), eliminating hunger (SDG №2), health and well-being (SDG №3), clean water and sanitation (SDG №6) and life on land (SDG №15). The fund will be three-quarters in stocks and one-quarter

Third Sector Investment Fund tries again to structure social-venture loans

A £30 million loan fund has been reconstructed because of lack of interest from the small and medium-sized social ventures who were targeted as borrowers. The Third Sector Loan Fund, was launched in 2014 by Social and Sustainable Capital and backed by Big Society Capital, Santander Bank, and Social Investment Business, to encourage commercial banks

Bridges Fund Management closes £220 million fund

Bridges Fund Management has closed a new £220 million fund. The U.K.-based impact investor’s fourth property fund is its largest to date, following its £212 million third fund that it closed in 2015. (The third fund raised close to $320 million at the time; $274 million at today’s exchange rate.) The fourth fund has four investments lined up,

“Samurai” bond in Japan will refinance social investments in France

Samurai bonds are yen-denominated bonds listed by foreign issuers for the Japanese market. Groupe BPCE, France’s second largest retail bank, structured the ¥58.1 billion ($518 million) bond like a traditional or green bond, targeting the proceeds to refinance loans made in education, healthcare and social sectors in France by its Banque Populaire and Caisses d’Epargne operations.