The Calvert Foundation in Bethesda, Maryland, has announced a new program that pools capital from multiple institutional and accredited investors to scale investments in qualified mission-driven organizations.
Created to address growing inefficiencies in the impact investment marketplace, the new Capital Aggregation program expands Calvert's existing services to meet the evolving needs of the communities it serves. To that end, the foundation will originate and structure Cap-Ag transactions of between $10 million and $50 million in the form of syndications and participation in fixed income transactions and act as administrative agent between investors and mission-driven organizations. Over the past two years, Calvert has identified approximately fifty institutional and accredited investors interested in investing capital in the transactions it originates.
"As both impact investors and impact markets have matured, we see a need for the facilitation of larger, broader flows of capital that can supplement our own investment appetite and are aligned with our investment objectives," said Calvert Foundation president and CEO Jennifer Pryce. "Calvert Foundation is uniquely suited to catalyze capital flows to meet the growing capital needs of the global communities we serve. Our Capital Aggregation business essentially creates a one-stop solution by structuring and administering investable transactions for mission-driven organizations that ease the associated capital raising process by connecting them with a syndicate of investors who seek exposure to high-quality, risk-appropriate deals that generate social, environmental and financial returns."