The ESG Initiative at the Wharton School


Embracing the Spectrum: Investors of catalytic capital seek outperformance – on impact

Outlet: ImpactAlpha
In this article for ImpactAlpha, Michael Brown, Head of Research at the ESG Initiative, discusses the Impact Finance Research Consortium’s recent report on catalytic capital in impact investing.

“One might get the impression that an impact investing turf war is underway. But a recent report on catalytic capital published by the Impact Finance Research Consortium paints a more nuanced picture. Based on survey responses from over 200 impact investing fund managers across the world, the report presents numerous findings on the forms, features, and functions of catalytic capital.”