IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers
ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers
Global Partnerships
Sustainable Agriculture
Microfinance, low-income financial services & micro-insurance
Global HealthFirm Overview
Global Partnerships (GP) is an impact-first investment fund manager dedicated to expanding opportunity for people living in poverty. For over 25 years, GP and its affiliated funds have invested in sustainable solutions that help impoverished people increase their incomes and improve their lives, with core investments in livelihoods, education, health, energy, housing, and sanitation. As a nonprofit 501(c)(3) and registered investment advisor, GP’s model helps donors and accredited investors access and navigate the global development, impact investment space. Since inception, GP and its affiliated funds have deployed $488.3 million in impact investments to 161 social enterprise partners, bringing meaningful impact to nearly 23.2 million lives in 26 countries in Latin America, the Caribbean, and sub-Saharan Africa (as of 12/31/20 ).
Years of Operation: 10 years or more
% of Capital from Top 3 Investors: 50% – 99%
Global Partnerships uses impact-first investment funds to provide capital to social enterprises whose products and services enable marginalized people to earn a living and improve their lives.
Global Partnerships is guided by the belief that with access to the right tools, resources and information, people have the power to earn an income and improve their lives. We believe that capital and markets have essential roles to play in unlocking and sustaining opportunities for millions of people living in poverty. Our funds invest debt and equity into social enterprises bringing essential goods and services to people living in poverty, helping them build economic resilience, stabilize and expand incomes, and improve the health and well-being of their families.
Global Partnerships employs an “impact-first” approach to investing: our funds seek to deliver clear and compelling levels of social impact on four dimensions… •Broader opportunity - support sustainable solutions across all facets of poverty: livelihoods, education, energy, health, housing, water, and sanitation •Deeper inclusion - prioritize investments where opportunity is expanded to include poorer and marginalized people, especially women and the rural poor •Serving millions - invest in sustainable, and therefore scalable solutions, that positively impact the lives of millions of people •Improving lives - focus investments on solutions that empower people to earn a living and provide for the basic necessities of life …While aiming to preserve capital for all investors.
Investment Example
Juhudi Kilimo is a Kenyan microfinance institution that serves low-income smallholder farmers and microentrepreneurs living in rural areas. 100% of Juhudi Kilimo’s clients live in rural locations and 69% of its clients are female. Juhudi Kilimo provides tailored loans for specific agricultural assets, including dairy cows, poultry, horticulture, and farm equipment. The organization also offers education and technical assistance programs on topics such as farming, financial literacy, savings, and investment. As of December 31, 2020, Juhudi Kilimo had loans outstanding from Global Partnerships Impact-First Development Fund, LLC and Global Partnerships Social Investment Fund 6.0, LLC. A 2020 Lean Data(SM) mobile, voice-based survey of 402 Juhudi Kilimo clients, funded by Global Partnerships and conducted by 60 Decibels, Inc., found that 96% of respondents reported improved quality of life and 94% reported increased income because of engagement with Juhudi Kilimo.
Leadership and Team
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Rick Beckett – CEO More Info
Rick Beckett is the CEO of Global Partnerships and has led the organization's strategic expansion as a social investor since 2006. Prior to joining Global Partnerships, Rick was managing director of a $112 million private equity fund investing in middle-market companies and early stage ventures. Rick spent 10 years at McKinsey & Company where he served financial institution and healthcare clients on strategy and performance. He specialized in helping not-for-profit organizations achieve superior results in competitive markets. |
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Mark Coffey – President and Chief Investment Officer More Info
Mark oversees Global Partnerships' (GP) social investment funds, directing both the structuring and management of the funds and leading the team that sources and lends capital to GP's social investment partners. Prior to his work at GP, he served as President of ShoreBank Pacific, the first commercial bank in the United States with a focus on environmentally sustainable community development. Mark has more than 30 years’ experience in banking, lending, and investment management, including serving in executive roles at Homestead Capital, Bank of the Northwest, First Interstate Securities and First Interstate Bank of Texas. |
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Megan Muir – General Counsel and Chief Operating Officer More Info
Megan is the General Counsel & Chief Operating Officer of Global Partnerships, overseeing legal, finance and operations for the organization. Prior to joining Global Partnerships, she was a partner with the international law firm DLA Piper LLP (US) for nearly 10 years where she represented investors and technology companies of all sizes. Prior to DLA Piper, Megan was General Counsel of a wireless company, an attorney with Venture Law Group and a clerk to a federal judge. She holds a B.A. with highest honors from Pitzer College and received her law degree with honors from Harvard Law School. |
Financial Performance
Impact Performance
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Percentage of Total Assets Under
Management that are Impact Investments: |
100%
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GP employs an iterative approach to impact management that informs both investment strategy and decision making for its funds. Our impact management begins with research that synthesizes information gathered from field experience and the existing body of evidence. If we identify capacity to reach and positively impact those living in poverty in a market-sustained way, the research culminates in the definition of an investment initiative. That definition then functions as a sub-investment thesis, defining who is served, what is delivered, and why it is impactful. The next step is identifying and making fund investments in partners that show strong capacity to execute on that thesis. For this reason, we conduct upfront, initiative-specific impact screening that goes beyond responsible lending considerations (such as strong environmental, social, and governance practices) to evaluate outreach as well as the design and delivery of products and services aligned with the applicable initiative.
Global Partnerships’ screening and due diligence process includes a “responsible lending” review; compliance with this review is necessary but not sufficient to enter the portfolio. The responsible lending screen includes a review of key ESG questions/risks by sector. For example, in microfinance we underwrite for client protection policies while in agriculture and energy we look to industry certifications (such as Lighting Global for solar, the Clean Cooking Alliance for cookstoves, and Fair Trade/Organic for agriculture). When organizations are not certified, they are flagged for review and additional screening.
Impact Tracking and Monitoring
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