Social Component Investments: Our Investments
We see Social Component Investments (SCIs) as innovative leveraging of traditional investment vehicles with the higher goal of providing a social benefit beyond the portfolio. We are currently invested in two funds - a hedge fund and a venture capital fund-of-funds. We plan to add SCIs to our portfolio on an opportunistic basis only. We believe that a growing sensitivity to social issues and corporate responsibility is going to promote further innovation in this space.
Children’s Investment Fund
The Children's Investment Fund Management (UK) LLP (“TCI”) is a hedge fund which manages The Children's Investment Master Fund. TCI makes long-term investments in companies globally. A portion of TCI's profits go to The Children's Investment Fund Foundation, a non-profit organization focused on improving the lives of children living in poverty in developing countries. TCI derives its name from its annual donations to a foundation called The Children's Investment Fund Foundation (CIFF), one of Great Britain's largest charities.
We have invested in this fund for the following reasons: the opportunity to be a part of a fund that is improving the lives of children and the communities they live in; portfolio exposure to a hedge fund with a stellar management team; and networking opportunities with other like-minded philanthropic investors in this space.
Legacy Venture
A philanthropic fund-of-funds, Legacy Venture invests in a select group of premier venture capital firms that, in turn, invest in promising early-stage companies. Legacy requires that investors be a foundation, other charitable vehicle or an investor willing to commit the profits from this investment to a charitable or philanthropic cause. This asset class has figured prominently in the strong returns and growth of large foundations and top university endowments.
Our foundation invested in this fund for several reasons: this filled a need in our asset allocation model; this was an opportunity to achieve superior returns at a reduced risk; and it is an opportunity to leverage our mission and programs through networking events facilitated by Legacy Works, a not-for-profit sister organization of Legacy Venture.
