This year’s exclusive list of private markets’ largest managers of impact capital has grown in line with an expanding universe and continued fundraising.
Our Impact 50 list brings together managers of private funds across different asset classes, including private debt, infrastructure, private equity and real estate. This disparate group of funds and managers is united by a common approach: the intentional pursuit of positive, measurable, social or environmental impact alongside financial returns.
TOP 10 IMPACT INVESTING FIRMS
| Rank | Manager | Headquarters | Five-year fundraising total ($m) |
|---|---|---|---|
| 1 | Brookfield Asset Management | Toronto | 24,834 |
| 2 | TPG | Fort Worth | 13,275 |
| 3 | Meridiam | Paris | 10,087 |
| 4 | Goldman Sachs Asset Management | New York | 9,864 |
| 5 | Actis | London | 8,301 |
| 6 | Enterprise Community Partners | Columbia, US | 8,111 |
| 7 | The Vistria Group | Chicago | 6,959 |
| 8 | BlackRock | New York | 6,473 |
| 9 | EQT Group | Stockholm | 5,900 |
| 10 | Ara Partners | Houston | 5,628 |
IMPACT 50: 2024
METHODOLOGY
This version of the Impact 50 list is based on the amount of dedicated impact capital raised by firms between 1 January 2019 and 31 December 2023. We count the full amount of a fund if it has a close in this timeframe, and we count the full amount of an interim close that has occurred, even if no official announcement has been made. We also count capital raised through co-investment vehicles. In the case of a fundraising, it means the fund has had a final or official interim close after 1 January 2019.
The Impact 50 is not a performance ranking, nor does it constitute investment recommendations.
For a full methodology, email Domonique Lemonius (domonique.l@pei.group)
Impact capital: For this ranking, we are using GIIN’s definition of impact, namely: “Impact investments are investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return in private markets. Impact investments can be made in both emerging and developed markets, and target a range of returns from below market to market rate, depending on investors’ strategic goals.
“The impact investment market provides capital to address the world’s most pressing challenges in sectors such as renewable energy, sustainable agriculture, affordable/social housing as well as debt and equity investments in firms that focus on providing answers to such challenges.”
Capital raised: This means capital definitively committed to a fund through an interim or final close within the specified time period. Structures that count towards the total figure are: limited partnerships, co-investment funds, separate accounts and seed capital/GP commitment. Investment strategies comprise private equity, private real estate, private debt, unlisted infrastructure and unlisted agriculture.
Not counted: Expected capital commitments, public funds, contributions from sponsoring entities, hedge funds, capital raised on a deal-by-deal basis, leverage, PIPE investments and ESG funds that prioritise financial return over impact.
PREVIOUS LISTS
LATEST NEW PRIVATE MARKET HEADLINES
The impact theme continues to appeal to investors
A number of data points this week – including our own Impact 50 list – point to continued LP enthusiasm for private markets impact.
In brief: Impact a ‘strong business driver’ as Eurazeo sees fundraising uptick
The appetite for Eurazeo's debut transition strategy shows the power of impact to driver allocations, says co-CEO Christophe Bavière.
In brief: How GIC assesses transition plans
The influential private markets investor views transition plans through four dimensions.
In brief: Welsh pension fund selects manager for clean energy impact
Clwyd Pension Fund has established a separately managed account with Capital Dynamics.
Scottish pension fund co-invests with renewable energy manager
Strathclyde Pension Fund has allocated £15m to Temporis Capital's impact strategy, a regulatory filing shows.
