Global financial services provider Morgan Stanley is making a big, bold push into the realm of sustainable finance, raising US$125 million in commitments for its first global impact fund, according to Business Insider.
The PMF Integro Fund 1 – which will be managed by AIP Private markets, a private Markets solutions team within Morgan Stanley – will invest in private equity funds that not only possess the potential to deliver strong financial returns, but also demonstrate they can make a positive impact on society or the environment.
Commenting on the Integro fund, Morgan Stanley chairman and CEO James Gorman said: “From education and healthcare in South Asia to financial inclusion in South America, the fund epitomises our belief as a firm that there are opportunities for investors of all types to pursue both positive financial return and sustainable impact.”
Impact investing is currently one of the hottest new trends in investing. Research from Bank of America Merrill Lynch shows that 93% of American millennials have a high preference for impact investments. Globally, over US$21.4 trillion in assets has been channelled into socially responsible investments.
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