The Living Cities Catalyst Fund has been selected for the 2011 ImpactAssets 50 – a global list of the top private debt and equity impact investment fund managers that deliver social and environmental value in addition to financial return. The selection of the Catalyst Fund as one of the top 50 impact funds worldwide highlights it as a vehicle for investors who want to bring capital at scale into underserved communities in cities across the nation.
ImpactAssets50 describes itself as “a gateway into the world of impact investing for investors and their financial advisors, offering a clear, frictionless way for potential investors to identify experienced impact investing firms and work either independently or with their advisors to explore their potential investment options. It is the first ‘open source,’ publicly published list of private debt and equity impact investment fund managers and offers investors a starting place for the discussions and due diligence that must take place before making any impact investment decision.”
Launched in July 2008, the Catalyst Fund is a $35 million pool of patient, flexible debt capital directed specifically toward investment in catalytic activities that create opportunities and make markets work better for low income residents of America’s cities. The Fund, which blends socially motivated investments from investors including foundations and financial institutions, focuses on innovative proof-of-concept and market-making investments in sustainable communities (transit-oriented development, green development financing), income and assets, healthy communities, and other domestic social impact areas. To date, the Catalyst Fund has closed 9 loans totaling over $15MM.
We are grateful for the work and contributions from our staff and members in supporting the Fund. Our special thanks to Frank DeGiovanni, Chair of the Catalyst Fund’s Advisory Board and the members of our Credit Committees: Dudley Benoit, JPMorgan Chase; Allison Clark, MacArthur Foundation; Kimberlee Cornett, Kresge Foundation; Christine Looney, Ford Foundation; Laura Sparks, Citi; and Dennis White, The MetLife Foundation for their dedicated service.