The Ledger
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Citron: ESG integration lowers capital costs and expands valuation multiples
“And also companies with these considerations have shown to be able to reduce volatility and trade at higher multiples and access, you know, a lower cost of capital.”
Microgrids and distributed power offer accretive value for data centers
“Those strategies, I think, will continue to both offer positive environmental impact, but also accretive propositions to the users, to, you know, data centers who are looking for that kind of local reliable power.”
Many skilled impact fund managers struggle to articulate their value proposition
“We found that a lot of Managers are really good investors, but aren't necessarily as practiced in, in telling their stories and helping connect what they do and why it's meaningful to LPs and other constituents.”
High-net-worth investors helped prove the alpha-generating ability of impact strategies
“There are a lot of high net worth investors that have been very committed to impact and have helped lead the way and have helped prove the alpha generating ability of some of these investment strategies.”
Impact fundraising requires a rifle-shot approach to match thematic LP interests
“And so there are very committed LPs to space, but you have to be a little more rifle shot in connecting particular strategies to LPs with particular interests.”
Stone Point Capital's first asset manager investment backed Todd Combs
“Stone Point's first investment in an asset manager was backing Todd Combs, who's now at Berkshire Hathaway.”
Volery Capital makes private equity investments in impact asset managers
“We founded Volery to make private equity investments that generate positive social or environmental impact. And we quickly decided to focus on asset managers.”
Volery Capital mapped over 1,200 sustainable managers across global asset classes
“So we have so far mapped over 1200 managers across asset classes and geographies. And the, you know, the majority of those are not addressable for us as investment propositions, primarily because they're subscale or they operate in geographies that are outside…”
Volery Capital manages a workforce development mandate for Zoma Capital
“Is a mandate that we recently signed with a group called Zoma Capital in Denver, which is a terrific, long-standing Values oriented investor, which is to focus on, on workforce development.”
Volery relies on outbound sourcing because impact GP stakes lack intermediaries
“Our sourcing strategy is almost completely outbound in our part of the market. No one's really intermediating These deals, we go out and create them”
Renewable Resources Group achieved high-teens net returns with zero realized losses
“They had realized a little over a third of what they deployed, zero realized losses, high teens, net returns in real assets, differentiated approach to each of their investments.”
Renewable Resources Group raised $900M for Sustainable Water Impact Fund
“So they RG set out to raise seven hundred and fifty million dollars for that fund and ultimately hit the hard cap of just over nine hundred million.”