In brief: German pension HAEK selects Blue Earth for impact induction

A €6.5 billion pension scheme for healthcare workers in Hamburg, Germany, has made its first private markets impact investments.

Versorgungswerk der Ärztekammer Hamburg – also known as HAEK – has committed $75 million to two impact funds managed by Blue Earth Capital, the impact firm created by the founders of Partners Group. One of these is the climate growth fund, which launched in April 2021 with a $300 million target. The other fund is Blue Earth’s social impact fund of funds, PG Impact Investments II, which closed in April on $150 million.

“We are convinced that private impact investments play a crucial role in the sustainability revolution,” HAEK managing director Christoph Gerstberger said in a statement. “This fundamental shift will also create significant business opportunities for the future. We believe that we can achieve attractive financial returns for our beneficiaries whilst creating significant positive social and environmental impact.”

• Further reading: Stephen Marquardt’s mandate to grow Blue Earth.