Christina Alfonso显示投资者如何推动变化

On Earth Day, April 22, Michael Bloomberg announced that Bloomberg Philanthropies, the nonprofit, charitable-giving foundation of the former New York mayor and the founder of financial data company Bloomberg, had committed $5 million to Little Sun, the group’s first impact investment. The Berlin-based company designs portable solar-powered lamps for people living off the grid in Africa, where death from breathing in toxic fumes from power and heat sources is common.

Impact investing, and its close cousins social finance and venture philanthropy, is having a moment. The idea of投资于实现投资和社会或环境的良好- 有时这两者都与一套核心投资者和慈善家一起受欢迎。

Investor allocation to social good is growing by the generation. ASeptember 2013 report关于世界经济论坛发表的影响投资与德勤触发托海松合作，引用来自全球影响投资网络的数据和J.P. Morgan，发现最大的分配人为影响资金是家庭办公室和高净值个人。同样的调查估计，XERS和千禧一代被提出，从婴儿宝宝父母那里继承了估计的41万亿美元。作为千禧一代的迹象表明 - 1982年或后来出生的人 - 考虑到影响投资，同样的调查显示，在该人口中被调查的18个国家的大多数5,000人在那种人口中排名“改善社会”。1业务优先权。世界经济论坛报告引起了财富顾问和私人银行的关注，渴望建立社会资本。

Investment and funding of socially beneficial entrepreneurship have contributed to the emergence of boutique financial advisory firms specializing in this segment of the capital markets. Among the newest of these firms is New York–based Madeira Global, co-founded in 2012 by Christina Alfonso and her business partner Alexandra Peterson Cart. Alfonso, who previously worked as the director of sustainable investments for São Paulo firm World Wide Investments and as a senior private client associate atAlliancebernstein., says she spotted the need for a firm that can customize social impact offerings to a client’s specific needs and interests.亚博赞助欧冠高级作家Imogen Rose-Smith最近赶上了Alfonso谈论影响投资和社会企业家精神。

亚博赞助欧冠机构投资者：为什么对冲击投资的兴趣兴趣？

Alfonso:主要是，经济已经有投资者寻找替代职位将钱付钱。影响投资与慈善事业相交。传统的慈善家的方法是通过慈善资本实现这一目标。另一方面，传统投资者可能会认为影响投资作为社会风险投资的形式：争取效力，但具有预期可衡量的结果是社会或环境变化。

Does this interest in achieving social or environmental change and profit represent a new role for investors?

我想说我t is more of a paradigm shift away from governments and nongovernmental organizations, which, historically speaking, have had to bear the burden of driving change. Now the profit-conscious business model has come to center stage. These businesses are being set up to create products or services to maximize social change. The likes of eBay’s Pierre Omidyar and Jeff Skoll and Microsoft’s Bill Gates have come to the fore — that is, billionaires who really understand business and say, “We’d like to contribute to social change, build successful business and support them from an incubation period.”

Is this shift a backlash against the risk-taking nature of investment banks leading into the 2008–’09 financial crisis?

By its very nature, investment is taking on risk for reward, that is, working to mitigate that risk to maximize rewards. There has been a lot of frustration and mistrust surrounding the global banking system. What you are seeing is private investors’ taking matters into their own hands when it comes to providing access to capital. Social entrepreneurs are on the ground. They are the best positioned to create these businesses. Channeling capital to those entrepreneurs is going to be key to any form of economic recovery.

Can investment dollars replace philanthropic giving?

I would never suggest that values-based approaches to investing would replace philanthropy. In fact, they need each other. Philanthropy allows grant capital to plant the seed for budding entrepreneurs.

In addition to its for-profit business, Madeira has a nonprofit that invests in the field. Is it your goal to provide that kind of seed capital?

在历史之前从未见过我们看到更多的创新融资工具 - 或者更多的创造性应用程序投资。马德拉的混合结构是其中的一部分。然而，我们并不是独一无二的，而是一群正在努力帮助供应需求的领域的创新者的一部分。我们看到市场的需求，有抱负的投资者不只是于寻求传统的资本供应商。他们不仅在新兴市场但是边界市场也是如此。这是对影响有意义的事情之一：它真的是全球性的。

Given how much of the enthusiasm is from younger people, is the interest from banks anduniversities影响投资一种吸引和留住年轻人才的方法？

World-renowned academic institutions, like Harvard, are really starting to focus their efforts on building out their impact investment programs. You are also seeing the large banks starting to devote resources to impact investing. They can’t afford to miss the boat.

Can impact investing ever truly attract significant interest from institutional money?

这取决于你如何定义“影响”。如果你只看到基于社区的影响，那就像包机学校或甚至是一名宪章学校，它的规模较为有限。我认为机构资本正在努力寻找进入这一领域的方法，将更多地在基础设施项目的筹资方面，即他们可以专注于如何识别机会，构建交易和部署资本。您将看到更多的投资机会，这将增加适当调查的必要性，以及真正尊重投资作为真正的投资纪律的影响的公司的提升。

So, is impact investing here to stay?

We are still at a very early stage in the industry. Is it an asset class? Is it an investment approach in its own right, or is it simply a style? As the segment becomes more popular, more social entrepreneurs are springing up, and more investors are showing interest.

Follow Imogen Rose-Smith on Twitter@imogennyc.