ImpactAssets 50

Since 2011, the IA 50 has become one of the most recognized free databases of impact investment fund managers. This annually updated list is a gateway into the world of impact investing for investors and their financial advisors, offering an easy way to identify experienced and emerging impact fund managers. The IA 50 is intended to illustrate the breadth of impact fund managers operating today, though it is not a comprehensive list. Fund managers selected to the IA 50 demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.

LAUNCH THE IA 50 2021 DATABASE

The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is not a replacement for due diligence. It is an information resource to begin research on the impact investing sector.

The ImpactAssets 50 is focused on private debt and equity fund managers to provide a centralized source of information that is not publicly available elsewhere. However, investing for impact can be done across many asset classes and we encourage investors to make use of other resources (US SIF, The GIIN) in evaluating sustainable, response, impact investing options.

Review Criteria

The ImpactAssets 50 Review Committee finalizes firms according to a set of criteria developed to ensure that the list includes a diverse set of firms with experience in the field, scale in terms of AUM and investor base, commitment to impact and representing a range of approaches, asset classes and impact areas. Particular consideration will be given to firms that demonstrate a unique strategy, under-represented impact theme and diversity in leadership in view of application pool.

IA 50 Baseline Criteria

All fund managers included in the IA 50 are evaluated at the firm level.

• $25M AUM
• 3 year minimum track record minimum
• Fund Manager must operate in:
  • More than one country
  • In a country with significant population
  • In a sizeable region of the United States; and/or
  • In an area where local funding is insufficient to support community needs
• Manage assets that are recoverable
• Accept US investment
• Have demonstrated financial capacity/oversight
• Demonstrated significant commitment to social impact and track clear measures of social and/or environmental impact (GIIRS rating, USE IRIS metrics, or other indicators to be determined)
• A minimum of 50% of fund manager's total assets under management must be comprised of impact investments.

Emeritus Manager Criteria

All of the IA 50 Baseline criteria as well as:

• Minimum of 5 years on the IA 50
• Emeritus Managers will be selected based on the size and composition of the application pool

Emerging Impact Manager Criteria

All of the IA 50 Baseline criteria except:

• No minimum track record required
• No minimum or maximum AUM required
• Emerging Impact Managers will be selected based on the size and composition of the application pool

For a more detailed discussion of how ImpactAssets evaluates impact in the selection of the ImpactAssets 50, please review the ImpactAssets Issue Brief: Assessing the Impact Capacity at the Firm Level.

Best Practices in Impact Investing Reporting

As the field of impact investing grows, it is critical that the measurement and reporting of impact is thoughtful and rigorous. In addition to providing a gateway into impact investing for financial advisors and their clients, the ImpactAssets 50 also presents fund managers that are leaders in this rapidly growing field, and are paving the way through their investments as well as their impact reporting. We asked the IA 50 2013 fund managers to share the best practices and challenges that have emerged from their impact reporting:

• Theory of Change as a Basis for Reporting Outcomes

• The Need to Start Early and Integrate Throughout

• The Challenge of Balancing Realistic and Rigorous

• The Importance of Resources and Communities of Practice