KKR & Co.’s fundraising for its first Global Impact Fund surpassed its goal, as bets on investments intended to provide a social and environmental benefit surge.
KKR is still collecting commitments after surpassing its $1 billion goal, Bloomberg News reported citing a person familiar. The fund has already invested in an Indian recycling firm and a Singapore-based energy-efficiency company, the news agency said.
- Investors are pouring money into social investing funds. Some investors have done so out of frustration with big funds’ and major corporations reluctance to do more to address environmental changes, while others see them as solid money-makers.
- Impact investing firms assets have grown 50% since 2014 to $502 billion at the end of last year, according to Global Impact Investing Network estimates.
- Rising interest in social investing appear to track a worsening tone surrounding expected results of global warming. The U.N. this week released a report predicting food shortages as climate change degrades soil and turns farming areas into deserts
- Karma Takeaway: Impact funds will continue to grow, offering shareholders more say in how corporations set green policies and respond to climate change and other social issues.