At a glance
- Catholic sisters supplied the anchor, according to the same report, a religious congregation standing behind the faith-based vehicle's first close.
- A first close is an initial closing rather than a final one, so the vehicle's total capital may still grow.
- Advisors with clients asking for faith-aligned holdings have one more vehicle to screen.
Charism Capital held a $25 million first close for a faith-based investing vehicle, ImpactAlpha reported.
Catholic sisters supplied the anchor, according to the same report, a religious congregation standing behind the faith-based vehicle's first close. A first close is an initial closing rather than a final one, so the vehicle's total capital may still grow.
Advisors with clients asking for faith-aligned holdings have one more vehicle to screen. The anchor likely matters more than the size of the raise: a Catholic congregation committing at the first close gives the manager a reference with other religious institutional allocators, the audience the strategy addresses.
What the report establishes and what it does not
Reported by the Products desk from ImpactAlpha. Published . Corrections