Total Assets Under Management: $51 – 99MM
Asset Class: Private Debt - Absolute Return / Notes, Private Equity
Impact Investment Focus:
Microfinance/Low-Income Financial Services/Micro-insurance
Category: Private Debt - SME Finance (Emerging)
Global Partnerships (GP) is an impact investor whose mission is to expand opportunity for people living in poverty. For over 20 years GP has invested in a range of social businesses that bring essential goods and services to marginalized populations in the areas of financial inclusion with education, health, renewable energy, urban sanitation and smallholder finance, among others. Over that period we have developed into a highly specialized fund manager that helps investors access and navigate the global development impact investment space. GP currently has approximately $90 million invested in a portfolio of over 60 social enterprises in 16 countries in Latin America, the Caribbean and sub-Saharan Africa.
Firm Headquarters: US & Canada
Years of Operation: More than 10 years
Total Assets Under Management:
$51 – 99MM
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: 25 – 50%
Global Partnerships invests impact-led capital in social enterprise partners that deliver products and services designed to help marginalized clients earn a living and improve their lives.
Global Partnerships is guided by the belief that with access to the right tools, resources and information, people have the power to earn a living and improve their lives. We believe that capital and markets have essential roles to play in unlocking and sustaining opportunities for millions of people living in poverty. GP invests in social enterprise partners that deliver products and services designed to provide clear and compelling impact for those who lack access. Our funds invest debt and equity into social enterprises bringing essential goods and services to people living in poverty, helping clients build economic resilience, stabilize and expand incomes, and improve health and quality of life. We have active investment initiatives that lead to better health, economic resilience, and cleaner forms of energy.
Artisan labor is a major source of income for those in the developing world. But too often artisans sell to local markets where competition is high and prices are low. Social enterprise Novica solves this problem by connecting approimately 20,000 artisans worldwide with international markets, leading to higher and more stable prices and income diversification. Novica provides market access and price premiums to artisans selling 100% fair trade goods. In addition, artisans are provided with personalized training to increase sales and ongoing product quality. This training results in increased awareness of product-market fit, along with access to and use of improved production techniques. Novica estimates that, on average, income increases 1.7x after one year of selling goods. Global Partnerships extended a $2,000,000 loan to Novica to help reach more artisans with stable offtake contracts with price premiums along with product design and development, skills development, and business training.
Leadership and Team
Cumulative Leadership Experience in Investing:
More than 30 years
Cumulative Impact Experience of Top Three Firm Leaders:
More than 30 years
Rick Beckett is the president and CEO of Global Partnerships and has led the organization's strategic expansion as a social investor since 2006. Prior to joining Global Partnerships, Rick was managing director of a $112 million private equity fund investing in middle-market companies and early stage ventures. Rick spent 10 years at McKinsey & Company where he served financial institution and healthcare clients on strategy and performance. He specialized in helping not-for-profit organizations achieve superior results in competitive markets.
|Mark Coffey – Chief Investment Officer More Info
Mark oversees Global Partnerships' (GP) social investment funds, directing both the capitalization of GP investment funds and the lending of capital to GP's microfinance and cooperative partners. Prior to his work at Global Partnerships, he served as President of ShoreBank Pacific, the first commercial bank in the United States with a focus on environmentally sustainable community development. Mark has more than 25 years experience in banking and lending, including serving in executive roles at Homestead Capital, Bank of the Northwest, First Interstate Securities and First Interstate Bank of Texas.
|Jim Villanueva – Managing Director, Social Venture Fund More Info
Jim is a longtime entrepreneur and investor in growth companies. Before joining Global Partnerships, he led the development of the impact investment portfolio at the Eleos Foundation as their Executive Director and a founding board member. Over the course of his career with several private equity partnerships, Jim invested in multiple industries across North and South America. He co-founded and sold a Spanish-language media company and a national Hispanic marketing and public relations firm. Jim holds an MBA degree from the Stanford Graduate School of Business, and graduated with honors from Harvard College.
Percentage of Investment Professionals who are Women and/or Under-Represented Groups in Firm's Geographic Focus:
More than 50%
Percentage of Board Members who are Women and/or Under-Represented Groups in Firm's Geographic Focus:
25% – 50%
Target Financial Returns Relative to Benchmark:
Actual Performance Relative to Target Financial Returns in the Past Three Years:
In line with initial target returns
Financial Reporting Frequency to Investors or Donors
Percentage of Total Assets Under
Management that are Impact Investments:
Primary Impact Outcomes:
Increasing access to education and improving educational outcomes
Increasing access to financial services
Increasing access to healthcare services and improving health
Increasing access to water and sanitation
Secondary Impact Outcomes:
Addressing climate change and environmental issues
Conserving land, ecosystems and natural resources
Value-added Services Offered:
Business and legal training
Financial literacy training
Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:
Global Partnerships' evaluation of prospective partners begins with that enterprise's alignment with one of our investment initiatives. Prior to due diligence, we conduct a screen visit to gain a sense of how the potential investee is generating impact at the household level, and only proceed with full diligence once we are convinced of compelling social impact.Furthermore, we use a variety of impact management tools, including poverty measurement indexes, client protection principles, and credible use of capital evaluations prior to approving a loan.
Investments systematically include social and environmental sustainability practices in the due diligence process:
Global Partnerships' screening and due diligence process includes a "responsible lending" review; compliance with this review is necessary but not sufficient to enter the portfolio (GP goes on to assess alignment in terms of target market and product offering).The responsible lending screen includes a review of key ESG questions/risks by sector. For example in microfinance we underwrite for the client protection while in agriculture and energy we look to industry certifications (such as GOGLA for solar, the Global Alliance for Clean Cookstoves, and Fair Trade/Organic for agriculture). When organizations are not certified, they are flagged for review and additional screening.
Impact Tracking and Monitoring
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to the public
Third Party Validations:
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing