(Alliance News) - Legal & General Group PLC on Monday said it invested in the women-led investment advisory firm ImpactA Global Ltd for an undisclosed sum.
The London-based life insurance and financial services provider said the investment will support ImpactA Global in building its business and address infrastructure deficit in emerging markets.
ImpactA seeks to bridge funding gaps in infrastructure projects and unlock investment to drive the climate transition and reduce inequalities in emerging markets, Legal & General explained.
Chief Executive Laura Mason said: "We are delighted to become a significant minority shareholder in ImpactA, and look forward to working in partnership with the ambitious, impact-driven investment advisory firm. This new partnership forms part of Legal & General Capital’s established mandate to take strategic minority GP stakes in managers of alternative assets, a model which we have successfully employed in other sectors, notably European credit through our investment in Pemberton and European sustainable energy through our partnership with NTR."
ImpactA Global Co-Chief Executive officer Isabella da Costa Mendes said: "There is an urgent and pressing need to address the critical social and environmental challenges that the world is facing, in particular in emerging markets. We believe in the potential of impact investing to unlock the capital to meet these challenges."
Legal & General shares were up 0.2% at 254.54 pence each on Monday morning in London.
By Xindi Wei, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Legal & General (LGEN)
