AI3 Brief: Unleashing The Power Of Pensions

Patrick DugganPublications

AI3 Unleashing The Power Of Pensions

Enterprise Community Partners and Insight at Pacific Community Ventures — co-sponsors of the Accelerating Impact Investing Initiative (AI3) — have released a new issue brief on impact investments by U.S. pension funds. The brief highlights public and private pension funds that have pursued “economically targeted investments” (ETIs), a type of impact investment that seeks certain social goals alongside a market-rate financial return. It comes just weeks after the U.S. Department of Labor, which oversees the fiduciary rules for many U.S. pension funds, issued new regulatory guidance that is expected to open the door to more ETIs in the years to come. To read the full issue brief released today, download the PDF below. The new ETI guidance was just one of several advancements in impact investing policies in 2015. Earlier this month, Congress authorized a new Pay for Success (PFS) demonstration within the Department of Housing and Urban Development to … Read More

California Initiative 2014 Report

PCV InSightPublications

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The tenth annual report examining CalPERS’ California Initiative, a $1 billion private equity, economically targeted investment (ETI). The California Initiative seeks to invest in companies located in traditionally underserved markets, primarily, but not exclusively, located in California. The California Initiative’s primary objective is to generate attractive financial returns, meeting or exceeding private equity benchmarks. As an ancillary benefit, the California Initiative was designed to focus investment in California’s underserved markets and invest in portfolio companies that: Have historically had limited access to institutional equity capital Employ workers who reside in economically disadvantaged areas Provide employment opportunities to women and minority entrepreneurs and managers

CalPERS For California 2014 Report

PCV InSightPublications

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The fifth annual report documenting the California Public Employees Retirement System’s $25.7 billion of investments in California as of June 30, 2014. The report provides an examination of the broad ancillary benefits of all CalPERS investments in California across the asset classes of public equity, fixed income, private equity, real estate, and infrastructure. CalPERS is the nation’s largest public pension fund, with assets totaling $299.6 billion as of March 31, 2015. They have a strong track record of long-term returns, and of mobilizing financial capital in new and innovative ways. Ancillary benefits of CalPERS investments described in this report include the creation and support of jobs, infrastructure for communities and commerce, and business expansion and related economic activity.

PCV’s 2014 Impact Report

Patrick DugganPublications

2014 annual report

Pacific Community Ventures has fueled the economic recovery for low-income communities over the past five years. We’ve empowered small businesses on the ground to create quality jobs by providing working capital combined with expert business advice. At the same time, we know that fostering one small business at a time isn’t enough to combat economic inequality. That’s why we’ve also worked at a national and international level with policymakers and investors to build impact investing markets and drive more private capital toward social good and underserved communities. Pacific Community Ventures creates economic opportunity in underserved communities through essential support networks for small business: Our research and policy work directs private capital to underserved communities and small businesses; From there, our advising services enable those businesses to succeed Our companies’ success makes them ready for additional investment, including capital from our loan program; that business’ growth creates jobs and stimulates the local … Read More

Financing Social Innovation: Analyzing Domestic Impact Investing Policy in the United States

PCV InSightPublications

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The convening partners on the Accelerating Impact Investing Initiative (AI3) project are pleased to present a new discussion paper, “Financing Social Innovation: Analyzing Domestic Impact Investing Policy in the United States.” The AI3 project is a collaborative effort between Enterprise Community Partners, the Initiative for Responsible Investment, and InSight at Pacific Community Ventures to research, identify and educate stakeholders on the best opportunities for strengthening impact investing in the United States through sound public policy. Informed by our research over the past year and a half, as well as the invaluable contributions of our partners and broader coalition, “Financing Social Innovation” offers a view into the intersection of federal policy and impact investing in the U.S. It includes a look at both historic and present ways policy leverages private dollars for social and environmental impact, and offers a set of criteria for evaluating new impact investing policy proposals going forward. The paper … Read More

Business Advising Welcome Kit

Patrick DugganPublications

CSR

BusinessAdvising.org is a nonprofit small business accelerator harnessing the model made famous by venture capital-backed tech startups (access to working capital, expert business advice, and extensive networks) to benefit businesses on “Main Street”. Since 1998, businesses working with us, on average, have seen their revenues increase by 25% on average, and added jobs at 10 times the national level. We’ve empowered hundreds of small businesses to create tens of thousands of jobs. The core of this program is you – the small business owner and volunteer advisor. Your commitment to be successful and to this community is what delivers real value for all. This toolkit is intended to support your hard work by providing some structure, templates, tips, best practices, resources, and lessons learned to set your advising match on the right path from Day One.

Invest Northwest: Eight-Year Social Performance Review

PCV InSightPublications

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Impact measurement is central to the practice of mission investing, allowing mission investors to understand if their investments are meeting their goals and furthering their mission. In our white paper on Invest Northwest (a private equity investment established by Northwest Area Foundation in 2004), PCV’s InSight practice looks at eight years of social and financial performance. We detail how the fund has delivered consistent social impact since its inception, including: strong job growth; steady increases in annual median wages; and higher employee wages than at other private businesses nationally and regionally. Read the white paper now.

2014 Impact Investing Global Policy Report

PCV InSightPublications

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This report builds on the work of the IIPC over the last five years, to provide information and analysis on policy innovation as a critical tool to grow impact investing markets globally. This first-of-its-kind report broadens the conversation from what public policy could enable, to what public policy is actively addressing in so many different markets. The report includes a compilation of articles and case studies focused on issue-areas relevant to impact investing, including: conceptual pieces on the development and mapping of the policy system for impact investing; examples of specific public policy that have supported market development in different countries; and insights from private firms into how impact investing intersects with other key market areas, such as international development and infrastructure investment.

CalPERS California Initiative 2013: Creating Opportunities in California’s Underserved Markets

PCV InSightPublications

CalPERS 2013 2

The California Initiative has committed over $1 billion to companies located in traditionally underserved markets, primarily, but not exclusively, located in California. The Initiative has sought to discover and invest in opportunities that may have been bypassed or not reviewed by other sources of investment capital. The California Initiative’s primary objective is to generate attractive financial returns, meeting or exceeding private equity benchmarks. As an ancillary benefit, the California Initiative was designed to focus investment in California’s underserved markets an invest in portfolio companies that: Have historically had limited access to institutional equity capital Employ workers who reside in economically disadvantaged areas Provide employment opportunities to women and minority entrepreneurs and managers

CalPERS for California 2013

PCV InSightPublications

CalPERS 2013

The fourth annual report documenting the California Public Employees Retirement System’s $20.8 billion of investments in California as of June 30, 2013. The report provides an examination of the broad ancillary benefits of all CalPERS investments in California across asset classes.