Legal & General Capital has announced funding worth $100 million to a women-led firm for sustainable infrastructure in emerging markets focusing on climate and equality challenges.

The investment advisory firm ImpactA Global was founded by partners Isabella da Costa Mendes, Victoria Miles, Susan Waard and Audrey Caulliez-Louis in March 2023 after Legal & General acquired a significant minority stake in the company.

The firm funds transformational infrastructure projects in sectors like renewable energy, sustainable mobility, health and water and sanitation, mainly across Latin America, the Caribbean, Africa and South Asia.

Miles, who is also co-CEO and CIO at ImpactA Global, said: “Legal & General’s commitment demonstrates growing investor appetite to target those markets that are often underserved by traditional players, specifically the opportunity to provide debt financing for sustainable infrastructure in our focus markets.”

Mendes,co-CEO at ImpactA Global, added: “We are encouraged by the growing recognition of the importance of mobilising institutional finance for sustainable investments in emerging markets.”

Laura Mason, CEO at Legal & General Capital, commented: “Socially oriented investing and choosing the right type of capital to meet the social need can directly address some of the most pressing demands of our time, whether at the local, national or international level while delivering superior risk-adjusted returns.”  

This funding is the asset management firm's latest in a GP stake acquisition programme, including their investments in alternative asset managers Pemberton and NTR Asset Management.