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 nearly 30 years, GP and its affiliated funds have invested in sustainable solutions that help people living in poverty increase their incomes and improve their lives, with investments in economic livelihoods, education, health, energy, housing, and sanitation. As a 501(c)(3) nonprofit and fund manager, GP’s model helps donors and accredited investors access and navigate the global development and impact investment space. Since inception, GP and its affiliated funds have deployed approximately $740 million in impact investments to 194 social enterprise partners, bringing meaningful impact to nearly 32.1 million lives in 33 countries in Latin America, the Caribbean, and sub-Saharan Africa (as of 6/30/23).
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 expand opportunity for people living in poverty.
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 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' affiliated funds use an “impact-first” approach to investing; delivering social impact for people living in poverty, by seeking to invest to: - Broaden opportunity across different facets of poverty including, but not limited to, economic opportunity, education, energy, health, housing, sanitation, and water. - Deepen inclusion of poorer and underserved people, including women and the rural poor. - Serve millions through sustainable and scalable solutions that can positively impact the lives of millions of people. - Improve lives by empowering people to earn a living and meet their basic needs. We do this while seeking to preserve capital with a modest financial return for all fund investors.
Investment Example
ONG SIA N’SON Microfinance (SIA N’SON) is a Beninese microfinance institution and a partner in Global Partnerships’ Rural-Centered Finance with Education initiative. SIA N’SON currently (as of June 30, 2023) serves over 135,000 clients, with a focus on vulnerable communities in rural parts of Benin: 78 percent of their clients live in rural areas and 50 percent are women. A 2022 study of SIA N’SON borrowers found that 97 percent of clients reported that their quality of life had improved because of SIA N’SON, 89 percent reported an improved ability to face an emergency expense, 88 percent reported an improvement in the number and quality of meals their family eats, 90 percent said they were able to spend more on their children’s education, and 86 percent reported increased spending on improvements to their home.
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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Curt Fraser – Interim Chief Investment Officer More Info
Curt Fraser is the Interim Chief Investment Officer of Global Partnerships, responsible for the teams that lend capital and manage credit quality. Curt had been Chair of the Investment Committee for the previous eight years and a member of GP’s Board of Directors for twelve years. Prior to this, Curt worked for thirty years at JPMorgan Chase, where he held various leadership roles, including Managing Director and Region Manager for JPMorgan Chase’s Pacific Northwest commercial banking team. |
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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 investment strategy and decision making. Our impact management begins with research that synthesizes information gathered from practitioner 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 an investment thesis within a given sector (e.g., Women-Centered Finance with Health), defining who is served, what is delivered, and why it is impactful. The next step is identifying and investing in social enterprise partners that show strong capacity to execute on that thesis. We conduct upfront, initiative-specific impact screening that goes beyond responsible lending considerations (such as strong client protection practices) to evaluate outreach to people in poverty, as well as the design and delivery of aligned products and services.
Global Partnerships’ screening and due diligence process includes a “responsible lending” review; successfully passing this screening is necessary but not sufficient to enter the portfolio. The responsible lending screen includes assessment of practices related to IFC Performance Standards 1 and 2, and a review of key social and environmental questions/risks by sector. For example, in microfinance we underwrite for client protection practices and in agriculture we emphasize responsible environmental practices. Review of partner enterprises’ relevant industry certifications (when available) such as Fair Trade/Organic for agriculture and Lighting Global Quality Standards for solar energy products, provide additional visibility into their social and environmental sustainability practices.
Impact Tracking and Monitoring
Learn More
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