image descritpion

Publications
& Insights

Resources created and curated to support the growth of impact investing, for those new to the field and for experienced practitioners.

ImpactAssets 50 Help Topics
Filtering:
Use the filter categories on the left to narrow down your results. You can switch years via the dropdown menu. The numbers next to each filter represent the number of results available given your current selection. If you'd like to start over, simply click the 'Reset All Filters'� link.
Sorting:
Use the dropdown menu found in the top right to arrange your current set of results. Select your preferred sorting option and wait for the results to refresh.
Printing:
Use the print button to print the current page contents. This works for both the summary view and the full Fund Manager detail view.
ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2021 PROFILE

Global Partnerships

Total Assets Under Management: $100 – 499M
Asset Class: Private Debt - Absolute Return / Notes, Private Equity
Primary UN Sustainable Development Goal: 1 – No Poverty
Sustainable Agriculture
Microfinance, low-income financial services & micro-insurance
Global Health

Firm Overview

Category: Private Debt - Other

Global Partnerships is an impact-first investor dedicated to expanding opportunity for people living in poverty. For over 25 years GP has invested in sustainable solutions that help impoverished people increase their incomes and improve their lives, with core investments in livelihoods, education, health, energy, housing, and sanitation. Over this time, we have developed into a highly specialized fund manager that helps our investors access and navigate the global development impact investment space. Since inception GP has deployed $426.2 million in impact investments to 149 social enterprise partners, bringing meaningful impact to nearly 17.9 million lives in 21 countries in Latin America and the Caribbean, and sub-Saharan Africa (all data as of December 31, 2019). 

Firm Headquarters: US & Canada
Years of Operation: 10 years or more
Total Assets Under Management:
$100 – 499M
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: 50% – 99%
Investment Thesis:

Global Partnerships uses impact-first investment funds to provide capital to social enterprises whose products and services enable marginalized people to earn a living and improve their lives. 

Investment Overview:

Global Partnerships is guided by the belief that with access to the right tools, resources and information, people have the power to earn an income 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. Our funds invest debt and equity into social enterprises bringing essential goods and services to people living in poverty, helping them build economic resilience, stabilize and expand incomes, and improve the health and well-being of their families.  

Company Differentiator:

Global Partnerships uses an “impact-first” approach to investing: we seek to deliver clear and compelling levels of social impact on four dimensions, while seeking to preserve capital for all fund investors. These four dimensions: Broadening Opportunity: We have a holistic understanding of poverty, so we seek to invest across all facets of poverty—livelihoods, education, energy, health, etc. Deepening Inclusion: We invest at the edge of the market, emphasizing approaches that include people marginalized by depth of poverty, gender, and/or geography. Serving Millions: We believe that every person matters. We want to expand opportunity for as many people as possible. We therefore focus on sustainable approaches that can, over time, scale to serve millions. Improving Lives: We only invest where evidence convinces us that people living in poverty value the opportunity being delivered and are empowered by it—economically or otherwise—to improve their lives. 

Investment Example

BRAC Tanzania Finance Limited (BTFL) is a microfinance institution within GP’s Women-Centered Finance with Education investment initiative. BRAC Tanzania serves nearly 200,000 clients, of whom about 97% are women. BTFL is part of the BRAC International network, and provides affordable working capital loans through group lending, and financial literacy education. In a Lean Data(SM) assessment, funded by Global Partnerships and conducted by 60 Decibels for BRAC Tanzania, 95% of surveyed clients reported improvements in their quality of life, 94% reported increased income and 97% reported increased ability to plan their finances due to engagement with BRAC Tanzania Finance Limited. 

Leadership and Team

Cumulative Leadership Experience in Investing:
30 years or more
Cumulative Impact Experience of Top Three Firm Leaders:
30 years or more
Rick Beckett – CEO More Info

Rick Beckett is the 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 – President and Chief Investment Officer More Info

Mark oversees Global Partnerships' (GP) social investment funds, directing both the structuring and management of the funds and leading the team that sources and lends capital to GP's social investment partners. Prior to his work at GP, 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 30 years’ experience in banking, lending, and investment management, including serving in executive roles at Homestead Capital, Bank of the Northwest, First Interstate Securities and First Interstate Bank of Texas.

Megan Muir – General Counsel and Chief Operating Officer More Info

Megan is the General Counsel & Chief Operating Officer of Global Partnerships, overseeing legal, finance and operations for the organization. Prior to joining Global Partnerships, she was a partner with the international law firm DLA Piper LLP (US) for nearly 10 years where she represented investors and technology companies of all sizes. Prior to DLA Piper, Megan was General Counsel of a wireless company, an attorney with Venture Law Group and a clerk to a federal judge. She holds a B.A. with highest honors from Pitzer College and received her law degree with honors from Harvard Law School.

Percentage of Investment Professionals who identify as women:
50% or more
Percentage of Investment Professionals who identify as a person of color:*
50% or more
Percentage of Senior Management Team who identify as women:
25% to less than 50%
Percentage of Senior Management Team who identify as a person of color:*
Less than 25%
*People of color include: Black, Latinx, Asian, Native American/Alaskan Native, Pacific Islander, Middle Easterm and multi-racial Americans

Financial Performance

Target Financial Returns Relative to Benchmark:
Concessionary Rates
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
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Alleviating poverty
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
Providing housing
Addressing Gender Inequality
Secondary Impact Outcomes:
Creating jobs
Value-added Services Offered:
Racial bias training
Other: Board participation for some Social Venture Fund investees, funding of Lean Data Assessments with select partners in the debt funds

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

GP employs an iterative approach to impact management that informs both investment strategy and decision making. Our impact management begins with research that synthesizes information gathered from field experience and the existing body of evidence. If we identify capacity to reach and positively impact those living in poverty in a market-sustained way, the research culminates in the definition of an investment initiative. That definition then functions as sub-investment thesis, defining who is served, what is delivered, and why it is impactful. The next step is identifying and investing in partners that show strong capacity to execute on that thesis. For this reason, we conduct upfront, initiative-specific impact screening that goes beyond responsible lending considerations (such as strong environmental, social and governance practices) to evaluate outreach as well as the design and delivery of aligned products and services. 

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. The responsible lending screen includes a review of key ESG questions/risks by sector. For example, in microfinance we underwrite for client protection policies while in agriculture and energy we look to industry certifications (such as Lighting Global for solar, the Clean Cooking Alliance for cookstoves, and Fair Trade/Organic for agriculture). When organizations are not certified, they are flagged for review and additional screening.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
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

Learn More

Key Contact Name: Tara Murphy Forde
Phone: 206-456-7835
Mailing Address:

1932 1st Ave, Suite 400, Seattle, WA 98101 USA

Apply for the IA 50 2022

The application period to become an ImpactAssets 50 2022 Fund Manager will open in September 2021!
To stay informed on the application process, sign up here.