Calvert Impact Capital announces expansion strategy, creation of Calvert Impact
Oct 17, 2022 | Bethesda, MD
Calvert Impact Capital, Inc. announced the formation of Calvert Impact, Inc. as its new 501(c)(3) holding company and Calvert Impact as the overall brand to expand its impact investment activities. The changes are intended to facilitate the launch of new impact investment products and service offerings that advance Calvert Impact's goal of better connecting the capital markets with organizations that positively affect communities and the planet.
Calvert Impact Capital, Inc. isn't going away. It is now a subsidiary of Calvert Impact and will continue to issue the Community Investment Note, the flagship product launched more than 25 years ago as one of the first impact investment products available to everyday investors.
The new nonprofit holding company, Calvert Impact, Inc., will provide a broader and more flexible platform from which to expand and diversify activities in lending, structuring services, and new product development. Calvert Impact has already created several subsidiaries and is working to develop new products for investors focused on reducing carbon and supporting unbanked small business. In recent years the organization developed its syndications, structuring and advisory work and arranged a series of new investment funds, bringing more than $750 million into the impact markets.
But expanding beyond services to bring new financial products to market—thereby giving investors more impact investment choices and ultimately increasing the amount of money invested in communities--required a new legal structure.
"We found that our original organizational framework sometimes prevented us from going bigger and bolder, taking catalytic but prudent risks," said Calvert Impact CEO and President Jennifer Pryce. "This new organizational structure will allow us to form stronger relationships with partners and expand our products and services to meet their capital needs. By organizing our activities under Calvert Impact, we can offer a more robust set of tools and deliver greater and more targeted impact to our growing community of investors."
Calvert Impact also released its new strategy, which details their ambitious goals for the next three years to continue growing and scaling impact markets. "Our strategy reflects our impatience with the pace of adoption across the capital markets," added Pryce. "We appreciate the need for ongoing financial innovation, but we also need to double down on what we know works in and for communities. We look forward to demonstrating that we can achieve scale without compromising impact integrity."