Philanthropy CA Offers New Opportunity for CA Impact Investors

Friday, October 9, 2020

RBC Global Asset Management launches a Philanthropy California Impact Investing Collaborative

Investors Contribute $100 Million to Direct Impact Dollars to California Communities

RBC Global Asset Management ("RBC GAM"), Northern California Grantmakers, Southern California Grantmakers, and San Diego Grantmakers last week announced the launch of the Philanthropy California Investment Collaborative, an impact investing initiative that will support homeownership, job creation, small business growth, and increased access to affordable rental housing, healthcare and education.

The Philanthropy California Investment Collaborative provides a coordinated approach for investors to direct market-rate investments in California with a specific focus on underserved communities and families. As part of the collaborative, foundations, grantmakers and organizations can invest in RBC GAM's impact investing strategies, within their fixed income allocation, that target the geographic areas of interest that are important to their organizations and missions, while also earning a competitive financial return.

San Francisco Foundation, Fresno County Employees' Retirement Association, Weingart Foundation and other California organizations have made initial investments totaling approximately $100 million into RBC GAM's impact investing strategies to launch this initiative that San Diego Grantmakers members will receive exclusive benefits to, including:

  • Lower minimum investment threshold: San Diego Grantmakers members can contribute as little as $100,000 in investment vs. the $500,000 minimum investment for other investors
  • Impact cohort: San Diego Grantmakers members will be included in a learning cohort that will come together to review impact reporting and strengthen shared learning

This is the first time grantmaking organizations have aligned to drive awareness for impact investing and to mobilize asset owners across their combined networks. A coordinated investment approach allows the Collaborative to scale investments in communities within the state of California at this time of acute need. Investors are invited to participate in the Collaborative to amplify support provided to local communities, complementing grant dollars with investment dollars with which they can both create impact and earn a market rate return.

"We are pleased to collaborate with so many mission-driven organizations on a program that supports impact-related investments that will focus on supporting underserved communities and families across the state of California," said Catherine Banat, Director of U.S. Responsible Investing at RBC Global Asset Management. "We think impact investing can help California thrive and prosper."

Members of San Diego Grantmakers grant millions of dollars annually to build economic health in California - we created this impact initiative because we know that grant dollars alone will not drive the change needed. Our goal is to allow organizations to collaborate across the state of California to generate market-rate returns while supporting affordable housing and community facilities like hospitals and healthcare clinics, as well as small businesses.

"We are excited to work with our California grantmaker peers to raise awareness for impact investing," said Debbie McKeon, President and CEO of San Diego Grantmakers. "Market-rate investments that address important community issues can work hand-in-hand with grant dollars to accelerate the contribution foundations can make to help California."

With this investment collaborative, organizations across our state are looking to support the communities where they live and serve.

"We believe in the power of impact investing as a catalyst for racial equity and economic inclusion, helping to build affordable housing, grow small businesses, create fair wage jobs, and strengthen the organizations that serve our communities," said Mark Doherty, Director of Investments at San Francisco Foundation. "We're thrilled to partner with other investors through the Philanthropy California Investment Collaborative to advance progress for our region's most pressing issues."

Nathan Magsig, Chairman of Fresno County Employees' Retirement Association said, "The opportunity to partner across sectors to effect change for our community is compelling and needed now more than ever."

"An equitable recovery must move resources and power to our most vulnerable residents, and no one organization – or sector – can do it alone," said Rosa Benitez, Director of Program Investments at Weingart Foundation. "The Philanthropy California Investment Collaborative leverages collaboration among like-minded investors to help achieve impact at scale."

To learn more about Philanthropy California Investment Collaborative and the opportunity to participate, visit here.

 

 

Legal Notice: 

Philanthropy California—an alliance between Northern California, Southern California, and San Diego Grantmakers—are not affiliated with RBC Global Asset Management (RBC GAM). RBC GAM sponsors an educational impact investing series of Philanthropy California that is entirely separate and in no way related to this initiative. Neither Philanthropy California nor any of its member associations is an investment advisor and may not, and do not, recommend any investment or investment product, including any investments managed by RBC GAM.

These materials are general and have not been tailored for any specific recipient and should not be relied upon solely for investment making decisions. This material  is not intended to cause the recipient to become a fiduciary within the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986. By way of this material, RBC GAM is not providing impartial investment advice, or giving advice in a fiduciary capacity. While RBC Gam has a financial interest in a transaction, we do not receive compensation directly from you or your clients for the provision of investment advice in connection with any such transaction.

RBC Global Asset Management (U.S.) Inc. is a federally registered investment adviser founded in 1983. RBC GAM is the asset management division of Royal Bank of Canada (RBC) and comprises the following affiliates, all of which are indirect wholly owned subsidiaries of RBC: RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management Inc., RBC Global Asset Management (UK) Ltd., RBC Global Asset Management (Asia) Ltd., BlueBay Asset Management LLP and BlueBay Asset Management USA LLC.

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© 2020 RBC Global Asset Management (U.S.) Inc.

 

 

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