Toussaint Bailey: Bringing ‘the quietly bothered’ into impact investing. Between the true believers in investing for impact and those that have dug in their heels against it, there are the “quietly bothered.” “It is incumbent upon us people who are changemakers for a living to create solutions for these quietly bothered folks that meet them where they are in their lives,” Uplifting Capital’s Toussaint Bailey says in the latest episode of ImpactAlpha’s Agents of Impact podcast. “We want to turn these desires for big, sweeping changes into micro acts of courage that people can access in a day.” Bailey himself is more than quietly bothered. In the aftermath of the 2020 murder of George Floyd, he took a sabbatical as CEO of Petaluma, Calif.-based Enso Wealth Management, which he had built into a $1.8 billion registered investment advisor. He convened a series of conversations around race and racism in wealth management. “And at that point I knew I needed to do something more than just help people create wealth,” he said. “I needed to help people who seemed to be genuinely bothered by what they were seeing, who seemed to genuinely want to make change.”
Dealflow: Investing in Health
Kenya’s Metro Group buys Evercare’s stake in Nairobi hospital group. The Evercare Health Fund, managed by TPG Rise since the liquidation of the troubled Abraaj Group in 2019, has sold its majority stake in Kenya-based Metropolitan Hospital Holdings to co-investor The Metro Group. Under Abraaj, the Growth Markets Health Fund aspired to build vertically integrated networks of health providers to treat low- and middle-income patients in major cities in Africa and South Asia. The deal, valued at one billion Kenyan shillings ($8.1 million), returns ownership of Metropolitan Hospital Holdings to its original founders, who established it in 1994. The group’s two hospitals have 160 beds and more than 350 staff members. The facilities have served roughly 300,000 mostly low- and middle-income patients since Evercare invested.
Six Short Signals: What We're Reading
🌍 Africa risk, adjusted. Investor risk perception must reflect the resilience, digitization and integration taking hold in African markets. (Gillian Marcelle / LSE Business Review)
Agents of Impact: Follow the Talent
Kate Turner is promoted to global head of responsible investment at First Sentier Investors, succeeding Will Oulton, who will retire at the end of the year… LEGO is hiring a climate strategy director in London... Temasek’s GenZero investment division has openings for senior associates, vice presidents and an intern in Singapore.
This week, host Brian Walsh is joined by Amy Cortese to talk about the growing corporate demand for soil carbon. We also hear from Macro’s Charles King, producer of Judas and the Black Messiah, and this week’s Agent of Impact. Plus, the headlines.