Impact investing is shaping up to be their method of choice.
By Alice Skipton
Comprised of around 75 million people, millennials are the largest generation in the United States to date, outnumbering baby boomers. Now that this cohort is coming of age, it’s becoming clear that this group will wield large influence on the way we invest, do business, solve social problems and take care of the environment.
The father of impact investing, Sir Ronald Cohen, would certainly say yes.
By Alice Skipton
The shift to impact investing is already well underway among the world’s wealthiest investors and philanthropists. Daily headlines chart the progress and partnerships by such leaders as Pierre Omidyar, the Ford Foundation, Jeff Skoll, and Priscilla Chan and Mark Zuckerberg.
Read the original article here in Wealth Management
The world’s wealthiest family offices are looking to help clients use their money to effect positive change in the world, but for many there are still disconnects, often generational, between intention and action.
The group, which calls itself The ImPact, has plenty of billionaire street cred: It's the brainchild of Justin Rockefeller (a great-great grandson of John D. Rockefeller) and Josh Cohen (CIO of Tyden Ventures).
The world’s richest families are increasingly investing their money in good causes, giving a boost to the growing, if still challenged, impact investing space. More than a quarter (28%) of ultra-net-worth “family offices” are now putting money into social and environmental areas. And, as younger generations take the reins, that percentage is likely to rise significantly in the years ahead.
The multi-strategy social impact investment firm, i(x) investments, appoints Sarah Bloom Raskin to its Board of Directors. The former Deputy Secretary of the U.S. Department of the Treasury (2014 to 2017) —and the first women to serve in that role— notes that "social, economic, and environmental progress will be the baseline return on our investments.”
A growing percentage of single-family offices are looking for investments that are not correlated to the “traditional” markets. According to Angelo Robles, founder and CEO of the Family Office Association, “Very often, single-family offices represent the ‘smart money.’ They have their hands on the pulse of the investment community and are always seeking high-quality opportunities. Increasingly, single-family offices are identifying places to put their monies that can do well no matter which direction the markets go.”