Activism
Impact investing will not scale on the strength of one portfolio. It scales when the people who allocate private capital change their minds. So we spend part of our time in rooms we have no commercial reason to be in, making that case to other family offices and financial institutions.
Why we do it
The capital already exists
The money needed to answer the world's fundamental needs is not missing. It is allocated elsewhere. Family offices in particular hold capital that answers to no fund timetable, which is exactly the horizon that impact requires. Very little of it is deployed that way.
What is missing is not money but conviction, and a practical account of how to underwrite return and impact at the same time. That is what our chairman puts on the table at conferences, panels and closed-door sessions. Not a pitch for our own vehicles, but the argument that this is investable, supported by what we have learned from our own portfolio, including the parts that did not work.
We publish our framework and our reporting for the same reason. A method kept private convinces nobody.
