The LISC Lending department has been included for the fifth consecutive year as an ImpactAssets 50 2020 Fund, a who’s-who of fund managers dedicated to creating positive social and environmental impact. This year saw a record number of applications. As a leader in community development financing, LISC received the ranking in light of our $475 million outstanding portfolio balance and a delinquency rate under 2%.
LISC makes the ImpactAssets 50 List for Fifth Consecutive Year
LISC has been recognized as an ImpactAssets 50 2020 (IA 50) Fund. This marks the fifth consecutive year that LISC has been selected as an IA 50 fund, and the ninth year ImpactAssets has selected funds. IA 50 2020 saw a record number of applications. Fund managers included in the IA 50 2020 manage an estimated $39.8 billion in assets devoted to creating positive social and environmental impact.
LISC received the ranking in light of our outstanding portfolio balance of $475 million and delinquency rate under 2% as of September 2019. As a leader in community development financing, LISC leverages public and private sector capital to meet the needs of the communities and partners we serve. For example, LISC mobilized its toolkit of support to provide a $4.8 million construction loan and an $8 million allocation of New Market Tax Credits to SER Jobs for Progress to create a combined 52,000 square foot Workforce Opportunity Center to be used for education, job training, youth services, a career café and a LISC funded Financial Opportunity Center. SER plans to expand its work with youth to support them on their path to re-engagement. The new center will double capacity to serve 8,000 individuals per year.
“With record applicants and assets under management, the IA 50 continues to reflect the rapid growth and interest in impact investing,” said Jed Emerson, ImpactAssets Senior Fellow, and IA 50 Review Committee Chair. “This year’s showcase includes eleven impact funds with more than $1 billion in assets under management. And to ensure we’re capturing the best future ideas, we’ve added emerging impact managers, who have the hunger, creativity and a willingness to explore alternatives that more seasoned fund managers may not.”
The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment options. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.
The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is not a replacement for due diligence. In order to be considered for the IA 50 2020, fund managers needed to have at least $25 million in assets under management, more than 3 years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are here.
ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments delivering financial, social and environmental returns. ImpactAssets’ $1.1 billion Donor Advised Fund and field-building initiatives enable philanthropists, other asset owners and their wealth advisors to advance social or environmental change through impact investment and philanthropy.