LISC has once more been named Emeritus Impact Manager for the ImpactAssets 50 (IA 50), a who’s-who of fund managers dedicated to creating positive social and environmental impact. The IA Emeritus category represents impact fund managers who have been on the IA 50 for at least five years. LISC is one of seven community development financial institutions (CDFIs) that were selected for this year’s IA 50, reflecting the critical role CDFIs continue to play to build more inclusive and equitable communities.
LISC named to ImpactAssets 50 list for eighth consecutive year
NEW YORK (Mar. 15, 2023) - LISC is one of seven community development financial institutions (CDFIs) selected for this year’s IA 50 and one of four recognized with the Emeritus status, reflecting the critical role CDFIs like LISC continue to play to build more inclusive, equitable and just communities of opportunity in the US. ImpactAssets took particular note of LISC’s $27 billion in community investments, its outstanding portfolio balance of $584 million, and its maintenance of a delinquency rate below 2 percent.
As one of the country’s largest community development organizations, LISC leverages public, private and philanthropic capital to catalyze economic opportunity for people and communities. LISC recognizes the devastating effects of structural and cultural racism and individual-level discrimination that undermine the success of BIPOC households, and is committed to advancing racial equity in local communities.
In late 2020, LISC launched Project 10X, a commitment to invest $1 billion over 10 years towards closing racial health, wealth and opportunity gaps. Within the first 18 months, LISC made progress to meet this urgent call to action, deploying $121.3 million in investments in BIPOC-led organizations and businesses, and projects that serve people of color.
IA 50 took note of a project in Boston, for example, where LISC provided a predevelopment loan to an emerging developer of color, offering crucial early-stage financing to help build the track record of a woman of color developer. The project’s resulting 30 condominiums and rental units will create new affordable housing and a pathway to building wealth through homeownership for residents in a low-income, predominantly people of color census tract. Through Project 10X, grants and low-cost loans are being deployed alongside programs that build health and resiliency, economic mobility, community safety and justice, and much more.
“This year’s IA 50 showcase is a watershed, as the industry continues to allocate more investable assets into social and environmental solutions with both time-tested strategies and creative, new approaches,” said Jed Emerson, ImpactAssets Senior Fellow, IA 50 Review Committee Chair and Chief Impact Officer at AlTi Global. “Established funds continue to impress, while new funds are bringing fresh approaches and insights that move the needle in critical areas through impact investing.”
IA 50 is an annually-updated list providing investors and their financial advisors an easy resource to begin research on the impact investing sector. Focusing on private debt and equity, IA 50 is a free, centralized source of information on funds representing a broad range of impact investing activities across geographies, sectors and asset classes. Learn more at impactassets.org/IA-50.
About LISC
LISC is one the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and local economies can thrive. Since our founding, LISC has invested $29.7 billion to create more than 489,261 affordable homes and apartments, developing 81.5 million square feet of retail, community and educational space.
About the ImpactAssets 50
The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for donors and/or investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment opportunities. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.
The IA 50 is not an index or investable platform and does not constitute an offering or solicitation to buy or sell securities or a private placement, or recommend specific products. Nor is this an endorsement of any of the listed fund managers. It is not a replacement for due diligence. To be considered for the IA 50 2023, fund managers needed to have at least $25 million in assets under management, more than three years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are available here.
The IA 50 Emerging Impact Managers list is intended to spotlight newer fund managers to watch that demonstrate potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable.
The IA 50 Emeritus Impact Managers list illuminates impact fund managers who have achieved consistent recognition on the IA 50.
About ImpactAssets
ImpactAssets is an impact investing trailblazer, dedicated to changing the trajectory of our planet’s future and improving the lives of all people. As a leading impact investing firm, we offer deep strategic expertise to help our clients define and execute on their impact goals. Founded in 2010, ImpactAssets increases flows of money to impact investing in partnership with our clients through our impact investment platform and field-building initiatives, including the IA 50 database of private debt and equity impact fund managers. ImpactAssets has more than $2 billion in assets in 1,700 donor advised fund accounts, working with purpose-driven individuals and their wealth managers, family offices, foundations and corporations. ImpactAssets is an independent 501(c)(3) organization.
