Award recognizes its pioneering work in the Impact Investment sector
Philadelphia, July 10, 2017 — Reinvestment Fund was named the Global Impact Asset Manager of the Year by the Global Social Impact Investment Steering Group (GSG), an independent umbrella organization for nations working to catalyze impact investment and entrepreneurship to benefit people and the planet. The award recognizes valuable organizations within the emerging industry of impact investing and the contributions they have made over the past twelve months. In honoring Reinvestment Fund, GSG recognized its successful $50 million bond offering, which reached traditional capital markets for low-income community development.
“Thanks to GSG for selecting us for this honor. We are merely a representative of new trends shaping our field,” said Reinvestment Fund’s CEO Don Hinkle-Brown, who accepted the award at a ceremony at the 2017 GSG Impact Summit in Chicago. “After decades of effort and false starts, there is now a solid bridge to the capital markets for CDFIs like us. This is just a beginning—we have years of more work ahead.”
As a financial intermediary, Reinvestment Fund has been in the business of investing for social and financial returns since its inception over three decades ago. Its investor base has grown from socially-motivated individuals and faith-based organizations to banks and philanthropy. Today Reinvestment Fund manages $1 billion in assets from 865 investors that it uses to invest in affordable housing, schools, childcare, grocery stores and health centers in the communities of greatest need in the manner that achieves the greatest good.
Just six weeks ago, Reinvestment Fund expanded its base by accessing a highly efficient source of private capital through the U.S. bond market. Its pioneering $50 million bond issuance connects impact investing to the traditional capital markets. This success is now being internationally recognized.
GSG has 15 member countries plus the European Union, as well as active observers from leading network organizations. This year, GSG partnered with ImpactAlpha, a news company focused in Impact Investment, to award the GSG Impact Honors. A total of six nominees were awarded recognition in categories including, Entrepreneur of the Year, Asset Owner of the Year, Asset Manager of the Year, and Field Builders of the Year. Reinvestment Fund is the only organization being recognized for Asset Management after review of over 150 impressive nominees. Mr. Hinkle-Brown’s full remarks are available on ImpactAlpha.