MRI/Social Investments
The foundation will search for impact investments after adopting an ESG-integrated and impact investment strategy to mitigate the negative impacts of climate change.
Only 13% of museums in the U.S. are engaged in impact investing, compared to 47% of college and university endowments and 51% of foundations.
The new program aims to establish and maintain student-run investment funds at select schools and will establish scholarships for students to increase education affordability.
The discretionary manager has closed its inaugural private equity environmental impact fund with more than $140 million in client commitments.
The university is creating a sizeable endowment to support scholarships for disadvantaged students that also includes a venture fund for student and alumni entrepreneurs.
Plan doubled the size of its social impact investment fund to $400 million from $200 million at its launch in 2018.
The nonprofit hired two firms as partner outsourced cios following an invitation-only RFP process last year.
The endowment made $30 million in initial investments from its $300 million social bond, which was issued in early 2021.
A working group of consultants has submitted a letter expressing reservations about a new rule from the Securities & Exchange Commission requiring climate disclosures for public companies.
The university has added two commitments as part of its initiative to invest 5% of its portfolio in impact investments, while reducing the carbon footprint of its portfolio over the last two years.
