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& Insights

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

ImpactAssets 50

Now in it's tenth year, 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.

Announcing the IA 50 2021!

We’re pleased to share this year’s list of IA 50 2021 fund managers. This year’s list represents a diverse range of impact fund managers across three categories:

IA 50 Fund Managers: Experienced impact fund managers with a minimum 3 year track record and $25M AUM.

IA 50 Emerging Impact Managers: Newer impact fund managers to watch that demonstrate future potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable.

New for 2021: IA 50 Emeritus Managers: Spotlighting impact fund managers who have achieved IA 50 recognition for a minimum of 5 years.


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.

Inclusion in the ImpactAssets 50

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

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

  • $25M AUM
  • 3 year minimum track record minimum
  • Fund Manager must operate in:
    • More than one country
    • In a country with significant population; and/or
    • In a sizeable region of the United States
  • 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)

Emeritus Manager Criteria

  • 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

  • No minimum track record required
  • No minimum or maximum AUM required
  • The applicant must meet the other IA 50 baseline criteria as outlined above

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.

2021 Review Committee

Jed Emerson
IA 50 Review Committee
Senior Fellow,

Cynthia Muller
Director of Mission Investment,
W.K. Kellogg Foundation

Fran Seegull
Executive Director,
U.S. Impact Investing Alliance,
Ford Foundation

Jennifer Kenning
Senior Advisor,
IA 50 Review Committee
CEO and Co-Founder,
Align Impact

Julia Sze, CFA
Impact Investor,
Julia W. Sze Consulting

Karl "Charly" Kleissner
Co-Founder, Toniic
Co-Founder, KL Felicitas

Lauren Booker Allen
Senior Vice President,
Impact Advisory,
Jordan Park Group

Liesel Pritzker Simmons
Co-Founder & Principal,
Blue Haven Initiative

Malaika Maphalala, CPWA®
Private Wealth Advisor
Natural Investments, LLC

Margret Trilli
CEO and CIO,

Mark Berryman
Managing Director
of Impact Investing,

Rehana Nathoo
Founder and CEO,
Spectrum Impact

Ronald A. Homer
Chief Strategist,
Impact Investing,
RBC Global Asset
Management (US) Inc.

Stephanie Cohn Rupp
Partner and Chief Executive Officer
Veris Wealth Partners



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: