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Industry’s first publicly available, searchable resource of impact investing fund managers sees record number of applicants and assets, reflecting the innovation and exponential growth that the IA 50 has helped to spotlight over the past decade.

BETHESDA, Md., Feb. 24, 2021ImpactAssets has released the ImpactAssets 50 2021 (IA 50), a free online database for impact investors, family offices, financial advisors and institutional investors that features a diversified listing of private capital fund managers delivering social and environmental impact as well as financial returns. This year marks the tenth edition of the IA 50, and despite a tumultuous year, total assets under management (AUM) among selected fund managers jumped to a record $228 billion in 2020, up from $181 billion in 2019. Thirteen managers selected in this year’s showcase reported assets exceeding $1 billion. By comparison, in the IA 50’s inaugural year, assets totaled just $6.8 billion. The IA 50’s Emerging Impact Manager list, which debuted in 2020 and spotlights newer fund managers that demonstrate potential to create meaningful impact, also saw significant growth. The number of emerging fund managers across a variety of themes and geographies included in this year’s list grew to 41, up from 16 managers in 2020.
Total AUM increased to $917 million, up from $397 million last year.

“When we launched the IA 50, we knew there was tremendous potential for impact investing, but realized many interested investors weren’t aware of the incredible range of impact fund managers available to them. As the field has evolved, we have also become aware of the large number of innovative fund managers not identified via our traditional networks,” said Jed Emerson, ImpactAssets Senior Fellow and IA 50 Review Committee Chair. “More recently we have expanded the lens of our process to capture more breadth and diversity of impact fund managers and in doing so have also chronicled the progress made by impact investors as well as the work that still needs to be done.”

This year’s list revealed several investing trends.

CDFIs Take Center Stage: Seven Community Development Financial Institutions (CDFIs) were selected in this year’s IA 50, reflecting the critical role CDFIs have played during the COVID-19 pandemic—from distributing PPP loans to supporting small businesses within rural, indigenous and low-income communities, and communities of color. These organizations represent both national and locally-focused community funders and manage a combined $18.7 billion in assets which are catalyzed for creating jobs, building affordable housing and financing community services in underserved low- income communities.

New Category: In another reflection of the growth of impact investing, the IA 50 added a new Emeritus category this year highlighting 27 managers with a combined AUM of $8.8B. These fund managers have been on the IA 50 for at least five years; 10 managers have been on the list for all 10 years of the IA 50. The Emeritus list enables the IA 50 to continue to recognize the important contributions of these established
managers, while making room for deserving new managers.

Investment Targets: In 2020, the global pandemic and subsequent economic downturn affected communities worldwide, and IA 50 fund managers focused on some of those hardest hit. A total of 63% of managers targeted investment in rural communities, while 54% specifically benefited people of color and 48% were focused on advancing women- led businesses. Two-thirds (67%) of managers said their firm focused on
underdeveloped markets where the market is relatively new, emerging, or subject to systemic challenges.

Diversity and Inclusion:  While fund management remains overwhelmingly non- diverse, IA 50 fund managers are leading with diversity. This is especially true of the IA 50 Emerging Impact Managers, where 51% reported more than half of their investment professionals were women and 54% said more than half of their investment professionals were people of color.

Impact and Financial Return:  Impact fund managers remained focused on delivering both positive impact and investment performance. A total of 87% of IA 50 fund managers targeted market rate or above rates of return and 92% delivered either in line or above their target returns. Emerging Impact Managers reported similar results, with 63% targeting market rates of return or above, and 98% delivering either in line or above their initial target returns.

“Our selection as an Impact Assets 50 manager IA50 for the second year in a row feels fantastic, especially after a year of unprecedented challenges and sacrifice from our diverse clients in the Latin America & Caribbean region, as well as from our multicultural team of passionate women and men who understand that purposely pursuing impactful investments in line with our investment thesis is the way to achieving profitable and resilient portfolios. Now more than ever we are convinced of the importance of focusing on gender and inclusion as key factors to successful impact investing for many years to come…and we’re just getting started.” said Fernando Alvarado, CEO of Deetken Impact Sustainable Energy

“The growth we’ve seen in the IA 50 over the past decade is reflective of the growth, maturity, and increased diversity of the impact investing industry as a whole,” added Sandra Osborne Kartt, CFA, Director, investments, ImpactAssets. “Along with the Emeritus and Emerging Impact Manager lists, this year’s IA 50 represents the vast array of impact themes and strategies available to impact investors today.”

In addition to Emerson and Osborne Kartt, the IA 50 Review Committee is comprised of an expanded group of impact investment experts and leaders, including Lauren Booker Allen, Senior Vice President, Impact Advisory, Jordan Park Group; Mark Berryman, Managing Director of Impact Investing, The CAPROCK Group; Ronald A.
Homer
, Chief Strategist, Impact Investing, RBC Global Asset Management (US) Inc.; Karl “Charly” Kleissner, Ph.D., Co-Founder of Toniic and KL Felicitas Foundation; Malaika Maphalala, CPWA® Private Wealth Advisor, Natural Investments, LLC; Cynthia Muller, Director of Mission Investment, W.K. Kellogg Foundation; Rehana Nathoo, Founder & CEO, Spectrum Impact; Stephanie Cohn Rupp, CEO and Partner, Veris Wealth Partners; Fran Seegull, Executive Director, U.S. Impact Investing Alliance, Ford Foundation; Liesel Pritzker Simmons, Co-Founder and Principal of Blue Haven Initiative; Julia Sze, CFA, Impact Investor, Julia W. Sze Consulting and Margret Trilli, President and CIO, ImpactAssets.

Osborne Kartt and  Jennifer Kenning, CEO and Co-Founder of Align Impact and IA 50 Senior Investment Advisor, led the ImpactAssets and Align Impact Investment teams in the application scoring and analysis process.

About Deetken Impact Sustainable Energy
Deetken Impact Sustainable Energy (DISE) manages two funds that invest in renewable energy and energy efficiency projects and companies in Central America and the Caribbean. With $60MM in committed capital, the funds have approved investments in 15 companies in 6 countries. DISE is supported by its partnership with Deetken Impact, a Canadian impact asset manager focused on investments in women’s empowerment,
clean energy, and social enterprises in Latin America and the Caribbean. DISE and Deetken Impact together manage $100 million in impact assets with a diverse team of seasoned impact investment professionals based in Central America, South America, the Caribbean and Canada and a track record of more than two decades. DISE is a signatory to the Operating Principles for Impact Management.

For more information, visit: https://deetkenimpact.com/ or follow on Twitter @DeetkenImpact

About the ImpactAssets 50
The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment options. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been
selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.

The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is not a replacement for due diligence. In order to be considered for the IA 50 2021, fund managers needed to have at least $25 million in assets under management, more than three years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are available here.

The IA 50 Emerging Impact Manager list is intended to spotlight newer fund managers that may demonstrate future potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable.

The IA 50 Emeritus Impact Manager list illuminates impact fund managers who have achieved consistent recognition on the IA 50.

About ImpactAssets
ImpactAssets is the leading impact investing partner for individuals, families and philanthropists tackling the world’s greatest challenges by investing in the world’s brightest ideas. We make it easy for our clients to “discover, connect and invest” in game-changing entrepreneurs and funds. Founded in 2010, ImpactAssets increases flows of money to impact investing with our 100% impact investment platform and field-building initiatives, including the IA 50 database of private debt and equity impact fund managers.

The ImpactAssets Donor Advised Fund is an innovative vehicle that empowers donors to increase the impact of their giving by combining it with strategic, sustainable and responsible investing to build a sophisticated philanthropic endowment. The Fund currently has more than $1.4 billion in assets in 1,400 donor advised funds, working with 350 wealth advisors across 60 financial services firms. Learn more at www.impactassets.org

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Magali Lamyin, Director of Communications and Development for Deetken Impact

MAGALI LAMYIN

Director of Communications and Development

 

Magali brings extensive market intelligence, business development and marketing experience from her work at the Central Bank of Mexico, the Canadian Institute for Market Intelligence, and the IESE-PWC e-Business Centre in Barcelona. She also co-led national marketing campaigns for businesses in the hospitality and early childhood education sectors for almost a decade before joining Deetken. In her current role, she is responsible for leading Deetken Impact’s communications, marketing and branding strategy. She is also involved in the due diligence process for project selection with an emphasis in Mexico.

Magali holds a BA in Economics from Mexico's ITAM and a Master's degree in Economics from the University of British Columbia.

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Jose Lamyin, Managing Partner Deetken Impact

JOSE LAMYIN

Managing Partner

 

José has extensive experience as a business advisor for clients throughout Canada, Europe and Latin America in mining, telecommunications, and finance. Prior to co-founding The Deetken Group, José worked for Teck Cominco in Peru and Canada and Deutsche Bank in London (UK). José has spearheaded much of the strategic growth of Deetken Asset Management since inception and is currently focused on investment selection.

José received his BS in Engineering from the University of British Columbia and MBA from IESE School of Business (Barcelona). Born in Peru, José is fluent in English and Spanish.

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Alexa Blain, Managing Partner Deetken Impact

ALEXA BLAIN

Managing Partner

 

Alexa is responsible for finance, operations and investor relations at Deetken Impact. She brings over 10 years of experience in financial consulting and asset management, with specific expertise in company and investment analysis, business valuation and securities/corporate finance. Prior to joining Deetken, she spent three years with African Alliance, a pan-African financial services group, where she focused on expanding the firm’s retail financial services operations as well as on the origination and negotiation of new capital. In addition, Alexa has six years of asset management experience with the Canada Pension Plan Investment Board, the Macquarie Group and the Ontario Teachers’ Pension Plan.

Alexa is a CFA Charterholder. She has also completed an MA in Financial Economics and an Honours BA in Economics, both at the University of Toronto.

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Fernando Alvarado, Head of Deetken Impact Sustainable Energy

FERNANDO ALVARADO

CEO

Honduras Renewable Energy Managers (HREM) and Caribbean Renewable Energy Managers (CAREM)

 

Fernando Alvarado leads the General Partner and Investment Advisor of two clean energy and energy efficiency project finance and venture capital funds: Honduras Renewable Energy Financing Facility (H-REFF) and Caribbean Basin Sustainable Energy Fund (CABEF), which he structured and runs with a combined target capitalization of $100m.

Development Investment Banker with 28 years of international credit and investment experience and 18 years of direct experience assessing diversified renewable energy portfolios in Latin America & the Caribbean. He has participated in more than 50 syndicated credit and investment transactions for renewable energy projects in excess of $250 MM. He led the creation, structuring, fundraising, legal closing and portfolio construction of several specialized renewable energy funds.

Costa Rican, based in San Jose, Mr. Alvarado has an MBA in Banking and Finance cum laude from Universidad de Costa Rica.

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Carl Black, Portfolio Manager Deetken Impact

CARL BLACK

Portfolio Manager

 

Carl is a Portfolio Manager with Deetken Impact focused on analyzing and working with MSMEs, social enterprises, and renewable energy developers in Latin America and the Caribbean. His main responsibilities include supporting business development, managing technical assistance projects, leading investment due diligence, and monitoring portfolio performance. Prior to joining Deetken Impact, Carl worked for five years as a consultant, advising public sector clients an non profits in Canada and financial services companies in Latin America. He started his career at the Bank of Canada, where he researched issues related to household and business credit. 

Carl completed an Honours BA in Economics at the University of British Columbia. He also holds an MSc in Economics & Development from the University of Oxford, where he earned distinctions in quantitative and development economics.

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Cristobal Aguirre, Investment Analyst at Deetken Impact

CRISTOBAL AGUIRRE

Investment Analyst

 

Cristobal has over 6 years of experience in the asset management industry, where his responsibilities have ranged from asset allocation and portfolio management to risk analysis and software development. Before relocating to Canada, Cristobal worked as a senior investment analyst in AFP Habitat—Chile’s largest pension fund—where he led the tactical asset allocation and macroeconomic research for emerging markets.

Cristobal is a CFA Charterholder, and completed a BA in Economics at Universidad de Chile.

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Chad Parsons, Senior Investment Analyst at Deetken Impact

CHAD PARSONS

SeniorInvestmentAnalyst

 

Chad has worked as a consultant in business and technology for 20 years – often helping clients with their business transformation initiatives.    He has worked with start-ups, government, and established businesses to further their product and service offerings with a balanced approach.   After pursuing a research degree on leveraging technology for social and economic development; Chad has found a valuable alignment of his background with Deetken’s innovative impact investments. 

Chad completed a BS in Engineering from the University of British Columbia and has a MSc with distinction from the University of Manchester (UK).

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