Eleven family office investors make impact investment commitments across energy, infrastructure, agriculture and water
NEW YORK, September 10, 2014 – Eleven members of the CREO Network, established in 2011 by a group of family office peers and co-convened by Jason Scott of EKO and Martin Whittaker of JUST Capital, announced today that they will commit a combined $300 million in new impact investments over the next five years.
The commitment is in response to a White House roundtable on impact investing earlier this summer, which challenged investors to accelerate innovative investments to address pressing domestic and global issues.
The CREO Network comprises over 50 family offices and private foundations interested in investing for impact across environmental and social sectors. The members that made the $300 million commitment include: Capricorn Investment Group, Drakes View Capital, the Grantham Foundation for the Protection of the Environment, CCM Energy, the Wallace Global Foundation, Sustainable America, Wolfensohn & Co, Forsythia Foundation, and MissionPoint. These investors’ capital will be deployed towards direct investments primarily in the areas of climate, energy, health, food and sustainability.
Some highlighted investments among the commitments include:
- A $100 million commitment by Capricorn Investment Group, which will be invested in sustainable real assets, including renewable energy, energy efficiency and water infrastructure, over the next three years.
- CCM Energy will invest $30 million to accelerate the deployment of clean energy and resource efficiency solutions in the built environment in the United States.
- The Betsy & Jesse Fink family office is committing $15 million, invested through MissionPoint Partners, towards transformative solutions that build healthy communities by improving environmental sustainability and resiliency.
- Wolfensohn & Co. is dedicating $5 million in principal capital and committing their investment platform, Wolfensohn Fund Management, to exponentially increase its efforts in values aligned and impact investments. Their aim is to help client families and foundations deploy $500M over 5 years into the sectors of financial inclusion, renewable energy, green infrastructure, ecosystem services and sustainability.
“The investments announced today showcase the leadership of the family office community in tackling some of the world’s most intractable problems,” said Martin Whittaker of Just Capital. “We are proud of the contributions CREO members are making to the broader global conversation about impact investing,” added Jason Scott of EKO.
CREO Member Adam Wolfensohn said, “We are inspired by the scale, quality and diversity of the commitments announced today, and the positive response to the challenge presented us at White House. The fact that the community can now embrace everything from rural microfinance to large scale renewable energy within the big tent of impact and values aligned investments shows the great maturation of the field over the past few years.”
About the CREO Network - http://www.creo-network.org
The CREO (“Cleantech, Renewables and Environmental Opportunities”) Network is co-convened by Jason Scott of EKO Asset Management Partners and Martin Whittaker of JUST Capital. CREO was developed to catalyze institutional scale family office investments into global clean energy, sustainability and broader environmental and impact markets. Founded in 2011, the CREO Network has met eight times over the past three years, in partnership with some of the largest and most respected names in global finance and private wealth management. Over 75 individuals, representing over 40 family offices have attended meetings, collectively constituting over $50 billion of investible capital. Meetings are invitation-only events usually focused on specific CREO themes and investment opportunities where family office and foundation investment managers are joined by leaders from the fund management, corporate, non-profit and public sectors.