The fund is designed to increase the foundation’s positive social and environmental impact as part of its $170 million total corpus.
The NAB Foundation has allocated $25m of its total capital into the Impact Investment Fund (IIF), with $10 million already invested, and aspires to allocate up to $50 million by October 2026.
The IIF seeks to invest in opportunities that intentionally generate a positive and measurable social and environmental impact alongside appropriate risk-adjusted financial returns. It will provide investment capital to support and scale impactful projects and organisations that align with NAB’s sustainability priorities: Indigenous economic advancement, social and affordable housing, and climate transition.
“The NAB Foundation is already supporting crucial community initiatives by providing up to $6 million in philanthropic grants and partnerships each year,” NAB Group Executive and JBWere Chair Cathryn Carver said. “Directing capital to aligned impact investments opens up new ways for the foundation to create positive and lasting change.”
JBWere will oversee the IIF as NAB’s investment manager.
“The NAB Foundation is one of hundreds of purpose-driven organisations and families that we have the privilege of partnering with,” JBWere CEO Michael Saadie said. “Our governance and impact investment experts are excited to work with NAB Foundation and like-minded clients to help them develop and execute their impact investing ambitions.”
A specialist investment committee was also established, chaired by Ben Smith, the Paul Ramsay Foundation’s Head of Impact Investing.
“The committee is excited by the potential of the Fund, especially with NAB Foundation’s willingness to invest across the risk/return spectrum to generate high-impact return,” added Smith.
The diverse and deeply experienced committee will work closely with JBWere and other specialists to determine and conduct due diligence on impact investment options, providing the governance framework to guide investment decisions and push for the growth of this important Australian market.
Read also: Why harnessing the full potential of impact investments remains difficult
Geraldine is currently the Content Producer for Third Sector, an Akolade channel. Throughout her career, she has written for various industries and international audiences. Her love for writing extends beyond the corporate world, as she also works as a volunteer writer at her local church. Aside from writing, she is also fond of joining fun runs and watching musicals.
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