Impact Investing Update

Tuesday, October 10, 2017

MCF members have committed more than $19 million to the impact investing collaborative fund announced by the Minnesota Council on Foundations earlier this year. The Minnesota-focused fixed income bond fund, part of RBC Global Access Management’s Community Access Capital, aims to reach $20 to 25 million this year. The fund invests in securities backed by affordable housing and small business projects throughout Minnesota.

MCF members—Bush Foundation, The McKnight Foundation and Otto Bremer Trust—are the lead institutions participating in the impact investing collaborative. They are joined by the Minneapolis Foundation, Minnesota Council on Foundations, Mortenson Family Foundation and Sundance Family Foundation. At least eight other foundations are currently bringing the opportunity through their internal review processes.

The Otto Bremer Trust has also committed support for two more years towards Susan Hammel’s impact investing executive residency. Thanks to OBT’s and the Bush Foundation’s generosity and support of her second year, Susan will be continuing to build awareness of the fund, work with existing investors, and interface with MCF and its members to answer any other impact investing questions that arise.

For more information, please contact Susan Hammel at shammel@mcf.org

Find More By
News type