Inaugural $170 million Endowments for Impact Challenge announces winners

And the winner is…
The winners of the inaugural Endowments for Impact Challenge are Australian Impact Investments and Koda. The Challenge is a first-of-its-kind open tender competition that brings together six of Australia’s leading philanthropic trusts and foundations who are seeking advisors to assist in managing a combined investment pool of $170 million.

Australian Impact Investments and Koda were among the six finalists who pitched their innovative proposals to an expert judging panel and the participating trusts and foundations at last week’s grand finale, held at the Impact Investment Summit in Sydney. The other finalists were Argus Advisory, Ethinvest, Evans & Partners and LGT Crestone.

^{The Australian Impact Investments team, with Rachel Ball, Reichstein Foundation CEO (far right)}

The Challenge reports that all finalists demonstrated a deep understanding of what it takes to engage with trusts and foundations, build strong relationships and work with and guide Boards and Investment Committees on their journey toward mission-aligned, impactful investments. All finalists showcased methodologies and skills to assess investment impacts, going beyond simply mapping them to the SDGs. The winners stood out at the top of an already impressive group.

The People’s Choice Award was presented to Evans & Partners, based on votes cast by event attendees.

The six trusts and foundations who participated in the Challenge are: Besen Family Foundation, Dusseldorp Forum, Inner North Community Foundation, Northern Rivers Community Foundation, Oranges & Sardines Foundation, and Reichstein Foundation.

Rachel Ball, CEO of the Reichstein Foundation, commented on the significance of the Challenge: “The Challenge has been an incredible opportunity to engage with investment advisors who understand the importance of aligning financial returns with our philanthropic missions. This process and its outcomes will serve as a resource for the philanthropic sector as it shifts towards responsible and mission-driven investment. Congratulations to all of the finalists for their outstanding efforts.”

David Hetherington, CEO of Impact Investing Australia, which managed the Challenge, spoke of the importance of the event: “The Endowments for Impact Challenge has demonstrated the growing demand for investment strategies that align financial goals with social and environmental impact. We were impressed by the calibre of proposals submitted in this inaugural Australian competition, and we’re excited to see these relationships continue to evolve as we work together to shape the future of impact investing.”

The participating trusts and foundations were joined by key supporters including Community Foundations Australia, Paul Ramsay Foundation, Grace and Emilio Foundation, Australian Communities Foundation, Fouress Foundation, Minderoo Foundation, and the Department of Foreign Affairs and Trade (DFAT).

For more information visit endowmentsforimpactchallenge.com

The Endowment for Impact Challenge project team have secured support from DFAT to make the learnings from the Challenge available to the broader sector in the form of a report and associated support materials. This work will be undertaken over the next few months.