Credit Suisse and BlackRock kicked off a new impact investing partnership today, launching the first in a series of planned private equity funds created for the private wealth market. According to the firms, the partnership aims to build the next generation of purpose-driven investments, achieving “double impact” by earning private equity returns while contributing positively to major societal trends.
Lydie Hudson, CEO of Sustainability, Research and Investment Products (SRI) at Credit Suisse, said:
“Credit Suisse and BlackRock have shown their mutual commitment to impact investing by providing innovative financial solutions to global societal issues. This joint private market investing program leverages the scale, expertise and strength of both firms to deliver a strong investment experience and outcomes for clients. We are delighted to work with BlackRock, with its proven private equity expertise, to provide clients the opportunity to invest with purpose.”
The investment themes behind the new funds are driven by Credit Suisse’s Supertrends, the bank’s initiative to identify multi-year societal trends that could lead to fast growing business opportunities. Credit Suisse has mapped its selected themes to their participation to the advancement of the SDGs, enabling investors to invest with purpose, while also pursuing their financial goals.
The first fund launched today through the new partnership is the Health and Wellbeing Fund, focused on four key sub-themes including physical health and wellbeing, mental health and development, nutrition and resources, and financial health, and aligning with the UN Sustainable Development Goals (SDGs) promoting access, affordability, innovation and inclusion. According to Credit Suisse, the themes are supported the identified Supertrends including millennials’ values, anxious societies and the silver economy.
Michael Strobaek, Global Chief Investment Officer at Credit Suisse, said:
“Our Supertrends spotlight the long-term investment opportunity in tackling the global demand for health and wellbeing. This intensifies our emphasis on helping investors prioritize sustainability in their portfolios. We need an ambitious response and through our collaboration with BlackRock, we believe we can make a meaningful impact towards improving the accessibility to many aspects of health and wellbeing at scale.”
Mirjam Staub-Bisang, Country Head of BlackRock Switzerland and a Senior Advisor to BlackRock Sustainable Investing (BSI), added:
“BlackRock and Credit Suisse share a fundamental belief that clients can achieve attractive financial return alongside measurable environmentalEnvironmental criteria consider how a company performs as a steward of nature. More and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More impact. BlackRock Private Equity Partners has a long track record of identifying private companies that are delivering innovation and growth in health and wellbeing. This is the first in a series of impact initiatives that we will co-develop with Credit Suisse over the coming years.”
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