LIGHTNING RELEASES: NEW YORK (10/10/2014) – Living Cities has been selected for the ImpactAssets 50 2014 (IA 50), a free, online resource for impact investors and their advisors. The IA 50, now in its fourth year, is the first publically available database of private debt and equity impact investment fund managers. This is the fourth consecutive year that Living Cities has been selected.
“We are excited and honored to be recognized as an ImpactAssets 50 fund for the fourth year in a row. Living Cities is committed to working with cross-sector leaders to build a new urban practice aimed at dramatically improving the economic well-being of low-income people. In service of that, we believe firmly that applying the power and potential of impact investing to address some of the most wicked challenges that we face has to be a national priority,” said Living Cities’ CEO Ben Hecht.
Through the Living Cities Catalyst Fund, we deploy concessionary, flexible debt from socially motivated investors to improve the lives of low-income people and the communities where they live. Since 2008, the Catalyst Fund has made $40 million in below-market rate loans to finance innovative initiatives in areas including community development, transit-oriented development, energy efficiency retrofits and access to fresh foods. Most recently, the Catalyst Fund has been one of the early lenders testing how Pay for Success models can address human capital issues such as juvenile recidivism. Since its inception, our $40 million in loan capital has helped launch initiatives with total funding of over $800 million from numerous public, private and philanthropic financing partners, and resulted in a leverage ratio of 20 times.
The ImpactAssets 50 is the only free, public, searchable database of outstanding impact investing fund managers. The showcase includes a range of funds across the globe, spanning diverse issue areas and investment, with demonstrated and compelling social and environmental impact. Fund managers included in the IA 50 2014 manage a combined $15.5 billion in assets devoted to creating measurable, positive impact.
The IA 50 selection committee is chaired by ImpactAssets’ Chief Impact Strategist, Jed Emerson, and includes experts from The CAPROCK Group, Labrador Ventures, Toniic, UBS, and other leading impact investors.
The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is a not a replacement for due diligence. In order to be considered for the IA 50 2014, fund managers needed to have at least $10 million in assets under management, more than 3 years of experience as a firm with impact investing and documented social and/or environmental impact. Additional details on the selection process are here: http://ift.tt/1yf3DlB.
About Living Cities
Founded in 1991, Living Cities harnesses the collective power of twenty two of the world’s largest foundations and financial institutions to build a new type of urban practice. Together, we are working with cross-sector leaders in cities to develop and scale new approaches to dramatically improve the economic well-being of low-income people. Our investments, research, networks, and convenings catalyze fresh thinking and combine support for innovative, comprehensive, local approaches with real-time sharing of knowledge to accelerate and deepen adoption in more places.
About ImpactAssets
ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments that deliver financial, social, and environmental returns. ImpactAssets’ donor advised fund (“The Giving Fund”), impact investment notes, and field building initiatives enable philanthropists, other asset owners, and their wealth advisors to advance social or environmental change through investment.
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