ImpactAlpha, Oct. 5 – Macquarie Asset Management has taken a minority stake in San Francisco-based impact investment advisor Sonen Capital.
The deal gives Sonen, an impact investment advisor to families, foundations and institutions, a balance sheet capital boost to grow its outsourced chief investment officer services and expand its impact measurement and reporting capabilities.
“This is the core of what we do. We haven’t always communicated that to the market clearly,” Sonen’s Raul Pomares told ImpactAlpha. When Sonen launched in 2011, it created a group of targeted products to help organizations move into impact investing, Pomares explained. “Now with the investment from Macquarie, we will be able to scale custom impact solutions.”
Sonen will maintain day-to-day management and operations of the firm.
Impact in focus
Macquarie’s Graeme Conway acknowledged Sonen’s long history of impact measurement. “Investors continue to have increasing expectations for their portfolios, including knowing how their investments impact society,” Conway said in a statement.
Amanda Feldman, who cofounded the Impact Managment Project, recently joined Sonen as head of impact engagement.