The limited partners committing capital to our Impact 50 (the world’s largest impact fund managers in private markets) are a diverse crowd. We’ve identified over 400 institutions that are investors in the private funds that underpin the Impact 50.
This list is not exhaustive, and by the terms under which we obtained the GPs’ fundraising data we cannot identify the funds or firms to which these investors have committed. But we can tell you who they are, where they are based and what sort of organisation they are. Download our list of the Impact 50’s investors here.
Pension funds are the largest group on the list, with 111 public pensions and 26 private pensions. Many are dipping their toes into impact, making just one commitment to a fund in the Impact 50, but several are repeat investors. It is worth noting that public pensions – particular those in the US – feature prominently in the mix; this is due in part to the fact they disclose more information publicly.
There are 91 foundations and endowments on the list. While such organisations have a long track record in impact investing, being some of the earliest asset owners in this space, they are typically smaller than other institutional investors and therefore have correspondingly smaller bitesizes. But clearly many foundations and endowments have gained access to some of the world’s largest impact fund managers.
Development finance organisations are also a significant minority on the list – we know of 30 such institutions among the Impact 50’s investor base. While impact investing has matured, with many funds able to attract commercial-rate investors, development finance and catalytic capital continues to play an important role in the segment.
About half of the organisations on the list are headquartered in North America, and another 155 are in Europe. But impact capital is also flowing from Asia-Pacific and the Middle East. Japan is a popular source of capital, with 16 organisations including banks, life insurance companies, corporates and two development finance organisations on the list.