UBS makes one of largest private equity impact investments

UBS has raised US$225 million (€204 million) from some of its private clients to fund a portfolio of impact investments.

KKR, a New York-based asset manager, will manage the money, which will make private equity stakes in firms making commercial solutions towards United Nations Sustainable Development Goals (SDGs).

UBS said the sum was a significant step towards meeting its $5 billion commitment over five years aimed at making impact investments related to the SDGs.

The fund is called the KKR Global Impact Fund and the strategy is specifically focused on opportunities where financial performance and societal impact are intrinsically aligned and there is no trade-off between positive impact and financial outcomes.

Since making its 2017 commitment to raising $5 billion for SDG-related impact investments over five years, UBS has since raised impact investments from its private clients across multiple asset classes and types of products, the bank said.

Ken Mehlman, co-head of KKR Global Impact fund, said: “We set out to create the KKR Global Impact Fund because we believe that in today’s world, investors have an imperative to create a positive impact while making a financial return.”

Co-manager Robert Antablin, said: “With the world facing unparalleled challenges, there is significant opportunity to invest in businesses that create value by delivering commercial solutions to critical challenges.”

©2019 funds europe

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