Rise Fund’s Impact Multiple of Money: A conversation with TPG’s Bill McGlashan

  • Largest impact investment fund... TPG Growth's Rise Fund quickly raised $2 billion from a Who’s Who of global billionaires and institutional investors, making it the largest impact investment fund to date.
  • On-stage conversation...Bill McGlashan, Rise Fund founder and CEO, sat down with ImpactAlpha's David Bank at an event hosted by the Commonwealth Club in Mill Valley, California.

Hewlett Foundation aims to activate retail banks for climate action

  • Walking the talk… “Our new work seeks to persuade banks to adopt sustainable banking practices. That will include our own banks,” Hewlett’s president, Larry Kramer, told ImpactAlpha.
  • Hewlett’s commercial bank… JPMorgan Chase considers itself a leader on climate action.

Three signs that new ‘rules of the game’ are making global finance more sustainable

  • Cookie-cutter bonds... Green bond issuance has jumped 14-fold to $155 billion since 2013.
  • Flight from carbon... Investors have pulled an estimated $5 trillion from carbon-intensive assets (through 2016).
  • China… China’s “Guidelines for Establishing a Green Financial System” cover banking, capital markets and insurance and are among the strongest national commitments to sustainable finance.

Impact investing through private debt: low but stable returns

  • Top line numbers… The 90th percentile of private debt impact funds returned an average 10% in 2016. Returns across the private debt impact funds averaged 2.6% per year since 2012.
  • Debt funds outperformed… the three-month US dollar LIBOR interest rate by more than five-fold, with almost equal volatility.

UBS Wealth aims to capture “impact delta” in sustainable portfolio

  • UBS’s “ESG Engagement Equities” strategy... will focus on small- and mid-size listed companies in emerging markets, where there are opportunities to improve labor standards, supply chain management, and environmental practices.
  • Impact delta... The wealth management firm aims to capture the "impact delta," or the improvement in a companies practices over the life of an investment.

DanoneWave becomes world’s largest B Corp

  • Largest B Corp… By completing the impact assessment from B Lab, the nonprofit that certifies B Corps, and scoring higher than the minimum threshold, Danone North America has now become the largest B Corp.
  • Danone, the parent company… aims to achieve the certification, according to a statement, and has been working with B Lab since 2015 to define a B Corp model that works for public companies.

Bain Double Impact calls a trend: sustainable meals

  • Big secular trend... Bain Capital Double Impact believes it is at the forefront of an impactful trend.
  • Hungry for sustainable food... The impact fund has made two investments in the past week in healthy, sustainable restaurant ventures.
  • Displacing unsustainable... As part of its impact management process, Bain tracks  "unsustainable meals displaced"...