MAPFRE AM and GSI launch Global Social Impact Fund
· The fund's first aim is to raise 50 million euros
· The vehicle will invest in short and medium-term debt from companies in sub-Saharan Africa and emerging countries
· Santa Comba (GSI shareholder group) and MAPFRE are making the initial capital contribution, and MAPFRE AM will act as an investment advisor
MAPFRE AM, the asset management arm of Spain's largest insurance group and Global Social Impact Investments SGIIC (GSI) are joining forces to launch the Global Social Impact Fund (GSIF). A new investment vehicle which aims to raise 50 million euros for high social impact companies in both frontier and emerging markets.
The Global Social Impact Fund will initially focus on consolidated business models in sub-Saharan Africa with the longer-term view of expanding into Latin America. It will invest in three sectors: agriculture, energy and financial inclusion. GSI will manage the fund with support from Santa Comba and MAPFRE Group as its leading investors, while MAPFRE AM will act as an investment advisor.
The new proposal reinforces both MAPFRE and GSI's commitment to ESG and Impact Investment. GSI will use the 'Theory of Change' model to evaluate companies held within the fund. A five-step process used to measure the improvement of the quality of life of people, communities, and the companies' impact on the ecosystem, looking beyond merely quantitative data.
MAPFRE Chief Investment Officer José Luis Jiménez said, "We are very excited about this project, and we couldn't have wished for a better partner for this. We believe that impact investment has a long way to go and, after the pandemic, socially responsible investment is going to emerge stronger, particularly investments made with social criteria."
María Ángeles León, founder and Chair of GSI, said "Few Spanish companies have incorporated social awareness from the outset, but MAPFRE is one of them. Ignacio Larramendi himself said that the company is not only obliged to provide its service efficiently but is subject to institutional obligations resulting from its influence on social life and its contribution to the national heritage. GSI is grateful to be part of this project and to contribute our knowledge to expand and deepen our impact among vulnerable groups, who just need to be given an opportunity."
Notes to editors
1. About MAPFRE AM
MAPFRE AM is the group's asset management company in Spain. Its investment philosophy combines the creation of long-term value with wealth protection. Its main areas of expertise are in European equities, fixed income and asset allocation.
MAPFRE is a global insurer with a presence in the five continents. It is the largest Spanish insurer in the world, the third-largest insurance group in Latin America and is in the Top 10 in Europe by volume of premiums.
More information at https://www.mapfre.es/seguros/mis-ahorros/inversion/fondos-de-inversion/
2. About Global Social Impact (GSI)
Global Social Impact, a pioneer in impact investment in Spain, has a management team with more than 20 years of experience in investments and the design, measurement and management of their social impact. Using its expertise, it has developed its measurement systems aligned with the most established international standards, such as the SDG, IRIS+ and IMP indicators. Its Advisory Committee includes well-known personalities, including Professor Muhammad Yunus, Nobel Peace Prize laureate, who also makes his local teams available to GSIF in the countries receiving investment.
More information at https://globalsocialimpact.es
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