RockCreek Signs Onto New IFC Principles for Impact Investing

Joins 60 Impact Investors From Around the World

Washington, D.C., April 12, 2019—RockCreek, a leading global investment firm that applies data-driven technology and innovation to sustainable investing, today joined with dozens of major impact investors to sign the Operating Principles for Impact Management—a new market standard for impact investing under which investors seek to generate positive impact for society alongside financial returns. 

The Principles, developed by the International Finance Corporation (IFC), the private sector arm of the World Bank Group, aim to bring greater transparency and discipline to the global impact investing market.

RockCreek – which has a long history of managing impact investments for endowments, foundations, sovereign wealth funds, and pension funds  –  was one of 16 firms worldwide that participated in early consultations with IFC on the Principles and worked closely to help develop them. 

The 60 organizations (listed below) adopting the Principles today collectively hold at least $350 billion in assets invested for impact, which they commit to manage in accordance with the Principles. Future investments for impact will also adhere to the Principles. The Principles provide a common market standard for what constitutes an impact investment, addressing concerns about “impact-washing.”

IFC led the development of the Principles, in collaboration with a diverse array of leading asset managers, asset owners, asset allocators, development banks, and financial institutions, following a three-month public stakeholder consultation.

“This is history in the making,” said IFC CEO Philippe Le Houérou. “We believe there is now potential to bring impact investing into mainstream. Our ambitions are very high – we want much more money managed for impact because there’s no time to lose to protect our planet and communities around the world.”

RockCreek Founder and CEO Afsaneh Beschloss said, “This is a huge step forward for catalyzing flows in impact investing, and it offers investors and companies alike a pragmatic, much-needed balance between a rigorous framework and flexibility to implement for investment management firms globally.”

In a new report—Creating Impact: The Promise of Impact InvestingIFC estimates investor appetite for impact investment could today be as much as $26 trillion. This includes $5 trillion in private markets involving private equity, non-sovereign debt, and venture capital, and as much as $21 trillion in publicly traded stocks and bonds.

To fulfill this potential, impact investing will need to offer investors a transparent basis on which they can invest their money to achieve positive measurable outcomes for society in addition to adequate financial returns. The Principles will help create clarity and consistency regarding what constitutes managing investments for impact and bolster confidence in the market.

The Principles reflect best practices across a range of public and private institutions. They integrate impact considerations into all phases of the investment lifecycle: strategy, origination and structuring, portfolio management, exit, and independent verification.

First Adopters of the Operating Principles for Impact Management 

  1. IFC
  2. Actis
  3. Acumen Capital Partners
  4. AlphaMundi Group
  5. Amundi
  6. AXA Investment Managers
  7. Baiterek National Managing Holding JSC
  8. Belgian Investment Company for Developing Countries (BIO)
  9. Blue like an Orange Sustainable Capital
  10. BlueOrchard Finance Ltd.
  11. BNP Paribas Asset Management
  12. Calvert Impact Capital
  13. Capria Ventures
  14. Cardano Development B.V. (ILX fund and TCX)
  15. CDC Group plc.
  16. CDP – Cassa Depositi e Prestiti
  17. COFIDES
  18. Community Investment Management (CIM)
  19. Cordiant Capital
  20. Credit Suisse
  21. DEG – Deutsche Entwicklungs- und Investitionsgesellschaft mbH
  22. Development Bank of Latin America (CAF)
  23. European Bank for Reconstruction and Development (EBRD)
  24. European Development Finance Institutions (EDFI)
  25. European Investment Bank (EIB)
  26. FinDev Canada
  27. Finnfund
  28. Flat World Partners
  29. FMO – the Netherlands Development Finance Company
  30. IDB Invest, Member of the Inter-American Development Bank
  31. IFC Asset Management Company (AMC)
  32. IFU – Investment Fund for Developing Countries
  33. Incofin Investment Management
  34. Investisseurs & Partenaires – I&P
  35. Islamic Corporation for the Development of the Private Sector, Member of IsDB Group
  36. Kohlberg Kravis Roberts & Co. L.P.
  37. LeapFrog Investments
  38. LGT Impact
  39. LGT Venture Philanthropy
  40. MicroVest Capital Management
  41. Multilateral Investment Guarantee Agency (MIGA)
  42. Norfund
  43. Nuveen
  44. Obviam
  45. Oesterreichische Entwicklungsbank AG (OeEB)
  46. Overseas Private Investment Corporation (OPIC)
  47. Partners Group
  48. Phatisa
  49. Proparco
  50. Prudential Financial Inc.
  51. responsAbility
  52. STOA Infra & Energy
  53. Swedfund
  54. Swiss Infestment Fund for Emerging Markets (SIFEM)
  55. The Rise Fund
  56. The Rock Creek Group
  57. UBS
  58. Water.org
  59. WaterEquity Zurich Insurance Group Ltd. 


About RockCreek 
RockCreek is a leading global investment management firm that applies data-driven technology and innovation to sustainable investing. Its portfolio managers invest in emerging markets and alternatives, and its asset allocation teams invest in multi-asset class portfolios and customized solutions. RockCreek’s client base is made up of sophisticated institutional investors, including endowments, foundations, pension plans, and sovereign funds. The firm is highly focused on the integration of environmental, social, and governance (ESG) factors and sustainable impact across portfolios to generate long-term returns. For more information, visit www.therockcreekgroup.com

About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

Comments

What to Read Next