Last week, the $69 billion private equity firm Hamilton Lane closed a $95 million impact fund targeting health and wellness, energy and environment, community development and financial empowerment.
Catholic Investment Services, a nonprofit investment advisor that manages roughly $650 million in Catholic assets, invested $24 million on behalf of its clients via a pooled feeder fund, ImpactAlpha has learned.
The structure gives CIF “individual opt out rights” on each deal in the portfolio, according to the advisor.
“We saw interest from faith-based investors seeking to align their capital with their mission,” a spokesperson for Hamilton Lane told ImpactAlpha. “While the Hamilton Lane Impact Fund does not have a specific Catholic lens, many of the goals are already very similar.”
Catholic invest/divest. Last month the Vatican urged Catholic congregations to “shun companies that are harmful to human or social ecology, such as abortion and armaments, and to the environment, such as fossil fuels.” More than a dozen congregations of Dominican sisters announced a pooled investment of $46.6 million to seed two new Climate Solutions Funds. More than 20 Catholic institutions with $40 billion in assets have signed the Catholic Impact Investing Collaborative’s impact investing pledge.
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