Snehal Shah
Article 9’s reporting obligations are ‘too burdensome’ for some private fund managers, say Stafford and Anthos.
Ambienta is in market with Sustainable Credit Opportunities, an Article 9 impact fund with a €500 million target.
Shell manages GSAM’s newly launched social impact fund, Horizon Inclusive Growth I.
The PRI has seen widespread uptake among private fund managers, including private debt giants such as Apollo, Ares and Oak Hill Advisors.
Middle Eastern institutions have been committing billions of dollars to climate funds: ALTÉRRA has committed $6bn to funds managed by TPG, BlackRock and Brookfield, while Investcorp's decarbonisation fund is anchored by Bahrain's Mumtalakat.
CalPERS has a $100bn allocation to climate solutions – and is looking at its existing investment partners for climate-related opportunities – while APG has a domestic Dutch programme for transitioning local businesses.
Private wealth, which occupies an increasingly large segment of private markets fundraising, is more inclined to prioritise impact over financial returns, say experts, particularly as the next generation takes over.
Brookfield president Connor Teskey sounded resoundingly positive notes about fundraising for the firm's various strategies, including its two climate funds in market.
The Omidyar Network, investing the wealth of eBay founder Pierre Omidyar, is 'aggressively adversarial towards big tech', says Aniyia Williams, a principal on OM's responsible technology team.
'We're giving up a little bit of return for a lot of impact,' Adirondack Capital Managers managing director Caitlin Haught told NPM.