Nuveen, a NYC-based global investment manager with over $1 trillion in assets under management, announced the initial close of the Nuveen Global Impact Fund, LP.
The private equity fund, which is open to institutional investors globally, secured $150m in commitments toward its targeted $400m offering.
Led by Rekha Unnithan, CFA, and David Haddad, co-heads of private markets impact investing, Nuveen’s Global Impact Fund seeks to drive positive change in two critical sustainable development challenges – inclusive growth and resource efficiency. The fund will target a 40-60% allocation to each theme.
Six of the United Nations Sustainable Development Goals (SDGs) set out as part of the Paris Agreement will be supported by the fund:
- SDG1 (No poverty);
- SDG 2 (Zero hunger);
- SDG 3 (Good health and wellbeing);
- SDG 10 (Reduced inequalities);
- SDG 12 (Responsible consumption and reduction) and
- SDG 13 (Climate action).
The Global Impact Fund investment team will pursue direct private equity investments across both themes. The fund will target growth stage companies in developed and emerging markets that are at an inflection point where Nuveen can help them scale.