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.
“Impact Investing 2.0: The Way Forward – Insight from 12 Outstanding Funds”, created in partnership with the Center for the Advancement of Social Entrepreneurship (CASE) at Duke University and Impact Assets, identifies twelve high-performing funds that have seen both financial and social returns on their investments. This report is designed to be a resource for the broad community interested in the future of impact investing, but especially for impact investing practitioners – those fund managers, investors, entrepreneurs, policymakers and advisors creating and managing new and existing funds and working hard to achieve successful social and financial performance. In the past few years, we’ve seen impact investing endorsed by some of our biggest financial institutions, taken up by G8 leaders, and receive repeated coverage in major newspapers. But for every pioneer blazing a path forward in impact investing, there are many others waiting at the sidelines.They have indicated they need more robust data … Read More
The California Initiative is a $1 billion economically targeted private equity investment strategy that seeks to generate attractive financial returns. As an ancillary benefit, the California Initiative was designed to create jobs and promote economic opportunity in California. To determine the extent of the ancillary benefits, CalPERS measures the impact of the California Initiative by examining portfolio companies that: Traditionally have had limited access to institutional equity capital Employ workers living in economically disadvantaged areas Provide employment opportunities to women and minority entrepreneurs and managers. CalPERS and Hamilton Lane engaged Pacific Community Ventures (PCV), a leader in measuring and interpreting community outcomes of investments, to collect, analyze and report on the California Initiative’s ancillary benefits. PCV has collected and analyzed data from California Initiative portfolio companies for the last eight years, beginning in 2005.
In 2012, PCV supported entrepreneurs who were building businesses and creating jobs in neighborhoods that needed it most. Even as PCV has actively rebuilt local economies in California, we have also gained recognition nationally and internationally as a thought leader responsible for advancing policies that drive investment to disadvantaged communities around the world. Learn about the impact that PCV had in 2012, and read a letter from our leadership celebrating our past 15 years while laying a groundwork for our future.
Breaking the Binary: Policy Guide to Scaling Social Innovation is intended to add a perspective to the global conversation already under way about how we move beyond binary choices in crafting responses to social, economic, and environmental challenges. Fundamentally, it is about leveraging private enterprise and capital for public benefit. We refer to this as social innovation. The first section of this report attempts to answer that question, articulating a framework for credible, realistic policy action that governments can take to turn social entrepreneurship into a major force for innovation. The second section of the Policy Guide profiles leading social enterprises in the Schwab Foundation network working in specific domains: education, health, employment, urban development and rural development. Policy case studies: The Impact Investing Working Group of the Presidential Investment Council, Senegal The National Innovation Council, India The Department for Social Prosperity, Colombia The Office of Social Innovation and Civic … Read More
On October 1, 2012, The Rockefeller Foundation and the Federal Reserve Bank of San Francisco co-hosted Capital Markets for Impact at Scale, an event curated by InSight at Pacific Community Ventures and Equilibrium Capital. The event gathered leaders in impact investing – including many active in community development finance – as well as leaders in mainstream investment to discuss the past, present, and potential role of institutional investors in impact and community investing. In an effort to capture the insights that emerged from the day’s discussion, The Rockefeller Foundation and InSight produced this document to chronicle the proceedings. The intent is that beyond memorializing the convening, this document will serve to spur action among those who came away from the meeting inspired to explore opportunities for growing the impact investing industry.
The Impact Investor is a project to build data-driven and practitioner-guided knowledge for the rapidly growing field of impact investing. It is a partnership between InSight, the Center for the Advancement of Social Entrepreneurship at Duke University, and ImpactAssets. It is supported by the Omidyar Network, the Annie E.Casey Foundation, the RS Group (Hong Kong), the F.B. Heron Foundation, and Deutsche Bank. The second report in the project seeks to identify and define the evolving tensions within impact investing classifying these as Six Dynamics, each of which describes a unique set of relationships, challenges and questions that underpins a deeper understanding of the best practices required to deliver blended financial and social returns successfully.