AEW is one of the largest real estate investment managers in the world, with over $94 billion assets under management. TGE are supporting AEW to assess the place-based impact of their UK based real estate strategies.
AgDevCo is a specialist investor in African agribusiness with the mission to support the development of a thriving commercial African agriculture sector. TGE conducted an assurance exercise for AgDevCo to verify its reported impact figures and to recommend ways to strengthen overall impact measurement and management practices. We also conducted research for a paper summarising lessons learned from AgDevCo's seed investments into early-stage agribusinesses.
British International Investment
British Investment International (BII) is the UK's development finance institution, focused on investing in the emerging markets of Africa and South Asia. TGE worked with the BII to produce a report that outlines a practical framework to help investors and companies consider how best to use digital technologies to enhance workforce communication and worker voice.
Capital & Centric
“It was a pleasure working with The Good Economy. The team were a joy to work with. We knew it would be a challenge to take something that is very subjective and people-centred, and develop something that is objective and quantifiable, but the team’s dedication and passion helped us develop a bespoke social impact measurement framework that is potentially ground-breaking for the industry.”
Cheyne Capital is an alternative asset manager with more than $7 billion AUM. TGE provides impact services for the Cheyne Impact Real Estate Trust (CIRET), an affordable housing fund launched in 2020. We worked with CIRET to define the fund's Impact Measurement and Management Methodology and we publish an Annual Impact Report, based on our indepedent impact performance assessment.
TGE provide Impact services to two Civitas funds - Civitas Social Housing PLC, a Real Estate Investment Trust, and the Social Supported Housing Fund. Both aim to increase the supply of specialist housing in the UK, particularly specialised supported housing for vulnerable individuals with a care need. TGE acts as an impact advisor and produces the Annual Impact Reports for both funds.
Clarion Housing Group
Clarion Housing Group is the largest housing association in the UK, owning and managing over 125,000 homes. TGE were commissioned to design and deliver a bespoke ESG training course to educate and inform senior directors about ESG and the implications for Clarion as a business.
Columbia Threadneedle Investments is a leading global asset management group that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients around the world.
Creative England is a not-for-profit organisation dedicated to supporting the growth of the creative industries. TGE provided a range of impact assessment and strategy consultancy services for its investment programme, delivering an independent Impact Report and conducting client surveys to provide feedback on the investment process from the investee's perspective. We also advised on Creative England's scale-up strategy, which resulted in the creation of an investment subsidiary company and the raising of a £10 million from Triodos Bank to increase Creative England’s investment activity.
EQT wanted to better understand where positive impact for people and the planet could be occurring, and to what extent within its existing portfolio and therefore commissioned TGE to conduct a review of a portion of EQT Private Capital’s portfolio. The review identified, in a consistent and comparable way, which companies may be generating positive outcomes for people and / or the planet and why.
In total, TGE analysed close to 90 companies across 15 funds, with each company given an impact potential score. Aggregate analysis of the scores highlighted to EQT the impact potential of its portfolio as a whole, as well as split according to investment theme and fund. Key impact ‘drivers’ and ‘reducers’ were identified across thematics, as well as opportunities for impact management were highlighted.
Overall, TGE assisted EQT in understanding the impact potential of its investees by enabling clear comparison of a wide range of companies across maturity, investment themes, sectors, sizes and geographies.
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FSD Africa is a specialist non-profit development agency funded by UK aid. TGE developed a Jobs Measurement Framework to enable FSD Africa to understand the impact of its work on building and strengthening financial markets across sub-Saharan Africa. We conducted extensive research to develop and deploy a practical model that allows FSD Africa to accurately determine its contribution to job creation and job quality, including the incorporation of 'green jobs'.
Funding Affordable Homes
Funding Affordable Homes (FAH) is an investment company whose purpose is to increase the supply of quality, affordable homes. TGE has acted as the social impact advisor to FAH since its launch in 2015. We carry out a social due diligence of all investments and produce an Annual Impact Report based on our independent assessment of FAH's impact performance.
Greater Manchester Pension Fund
Greater Manchester Pension Fund (GMPF) is the largest local government pension scheme (LGPS) fund and the eleventh biggest defined benefit pension fund in the UK. GMPF manages over 375,000 pensions and pay over £750 million of benefits each year. TGE is supporting GMPF in developing its place-based impact reporting using a robust and industry-driven methodology, as well as delivering the outputs to members in an easy-to-understand visual reporting format. The report enables GMPF to demonstrate the nature of its private market investments and their contributions to inclusive and sustainable development including the Government’s Levelling Up agenda in the UK, with a particular focus on benefits to Greater Manchester and the Northwest of England.
The House of St Barnabas
The House of St Barnabas' Employment Academy aims to help those affected by homelessness find lasting, paid work by providing training, qualifications, work experience, mentoring and support. TGE conducts regular outcome surveys for the Employment Academy using Insightable, our lean approach to outcomes measurement. This allows the Academy to better understand user-voice through a handful of simple, easy-to-understand survey questions that can be quickly analysed and benchmarked.
Johnson & Johnson Impact Ventures
Johnson & Johnson Impact Ventures (JJIV) is an impact investment vehicle which was launched by Johnson & Johnson in 2019. The vehicle invests in purpose driven entrepreneurs whose healthcare innovations address existing healthcare and health workforce challenges in low-income and diverse communities. TGE is supporting the development of a practical Impact Measurement and Management system for JJIV.
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Joseph Rowntree Foundation
The Joseph Rowntree Foundation (JRF) is an independent social change organisation working to address UK poverty through research, policy, collaboration and practical solutions. In 2015, JRF began a process to develop its social investment operations and commissioned TGE to conduct a study (in partnership with Small Change Ltd) to create a foundation for its social investment strategy.
Legal & General Affordable Homes
Legal & General Group is the UK's biggest provider of corporate pension schemes and individual life insurance products, with over £1 trillion in AUM. Within the Group, L&G Affordable Homes (LGAH) is a for-profit registered provider of social and affordable housing. TGE worked with LGAH to develop an Impact Measurement and Management Methodology, and publish an Annual Impact Report.
Lloyds Development Capital
Lloyds Development Capital (LDC) is a mid-market private equity house and a subsidiary of Lloyds Banking Group. TGE conducted social value assessments of LDC's investments analysing the extent to which they supported balanced and inclusive growth in the UK. TGE's methodology has been endorsed by the British Venture Capital Association as the first “intellectually rigorous” methodology for assessing the social contribution of private equity and venture capital investment in SMEs.
M&G is a global investment manager overseeing a range of assets including Equities, Fixed Income and Real Estate. Launched in 2021, the M&G Shared Ownership Fund is a long-term partnership with one of the UK's leading housing associations, the Hyde Group, seeking to deliver £500 million of new shared ownership homes. TGE designed an Impact Measurement and Management Metodology for this fund.
Manchester City Council
Manchester's recent economic growth has been led by one of the highest rates of private sector growth over the past 15 years and the creation of over 50,000 jobs across the city. However, in spite of this renewed success and pride, Manchester is still tackling social problems left by 40-50 years of economic decline and is now working with TGE's place-based impact investing (PBII) team to identify possible sustainable solutions.
Matter Real Estate is a specialist private equity real estate investor with over £250million in AUM. Matter Real Estate has acquired a majority stake in a range of real estate businesses operating in housing and healthcare.
In 2021, TGE supported Matter Real Estate to develop an ESG Approach, which outlines a framework for impact measurement and management. In 2022, TGE continued its work with Matter, producing their produce the Annual Impact Report based on our independent assessment.
Octavia Housing is a Registered Provider of Social Housing, delivering affordable homes to thousands of people in central and west London. As early adopters of the Sustainability Reporting Standard (SRS) for Social Housing, Octavia commissioned TGE to conduct a 'critical friend' review of its first SRS submission, including a criteria-level review of the draft submission and the underpinning methodology.
Oxfam GB acts as an Impact Advisor to The Enabling Microfinance Fund (EMF), a fund which supports financial intermediaries to deliver micro and SME finance to entrepreneurs in low income countries. TGE carried out an independent assessment of EMF's impact performance, assisting the production of an Impact Report and providing recommendations for ways the fund could improve its level of impact creation.
With €58 billion Assets Under Management, Patrizia is one of the leading global real asset investment managers. The Company offers a comprehensive product portfolio of private and listed equity funds, private debt funds and (multi-manager) fund of fund products to more than 500 institutional and 7,000 semi-professional or private investors.
Placefirst is a developer and housing manager offering high-quality rental homes, with a particular focus on redeveloping derelict and underutilised spaces. TGE conducted a specific scheme-level impact assessment of Placefirst's Welsh Streets scheme in Liverpool.
Rentplus offers an affordable route to home ownership for lower-income households. Through the Rentplus model, homes are let at an affordable rent and residents receive a 10% gifted deposit at the point at which they purchase their home. TGE worked with Rentplus to define its Impact Measurement and Management Methodology and undertook a review of the company's existing ESG policies.
Residential Secure Income PLC
Residential Secure Income PLC (ReSI) is a UK-listed Real Estate Investment Trust which invests in a range of housing types. TGE worked with ReSI to define the fund's Impact Measurement and Management Methododology. We also produce an Annual Impact Report, based on our independent assessment of the Fund's impact performance.
RM Funds is a specialist asset manager focusing on alternative investments. TGE was commissioned by RM Funds to provide third-party assurance of its Impact Management and Measurement framework. We are also reporting annually to investors to give an independent view of impact performance for two of RM’s flagship products.
The Scottish Government commissioned TGE to research the needs of business in driving inclusive job growth in the South of Scotland. The research report, used to inform the area's subsequent economic strategy, included a baseline analysis of job growth performance, interviews with businesses, identifying innovative finance and impact investment approaches, and provided policy and practical guidance. TGE subsequently conducted similar research spotlighting the specific needs of the agricultural sector.
A certified B Corporation, Snowball is purpose-built to help serious investors use their money to shape a better world, profitably. The fund is invested across two interconnected themes (social equity and environmental sustainability) into opportunities that use capital to add value rather than extract it.
South West Academic Health Science Network
The South West Academic Health Science Network (South West AHSN) is one of 15 regional organisations across England, set up by the NHS in 2013 to identify and spread health innovation at pace and scale. TGE was commissioned by the South West AHSN to explore opportunities to strengthen the connection between supply and demand for funding and finance for VCSE models of care.
Sumerian Foundation is a registered UK charity supporting start-up and growing social purpose organisations to tackle social inequality in the UK by providing long-term "impact-first" funding and skills support. TGE reviewed and strengthened Sumerian Foundation's existing impact management practices and worked with the early growth charities and social enterprises to evaluate their use and reporting of social impact metrics.
Sycomore Asset Management
In partnership with Sycomore, a French asset management firm with €8.3 billion in AUM, TGE developed the Good Jobs Rating, a tool which enables investors to assess the societal contribution of companies as employers and creators of good job opportunities, particularly in countries and regions where they are most needed. Sycomore has integrated the Good Jobs Rating within its investment process.
Triple Point is an investment manager with over £2 billion in AUM. TGE conducted a company-wide impact audit for Triple Point in 2019 as well as delivering training on ESG. We developed the Impact Measurement and Management system for Triple Point's Social Housing Real Estate Investment Trust (REIT) and continue to act as an impact advisor to the REIT, publishing an Impact Report twice a year.
Urban Land Institute
The Urban Land Institute (ULI) is a global, member-driven organisation with more than 45,000 real estate and urban development professionals. ULI’s mission is to shape the future of the built environment for transformative impact in communities worldwide. TGE was commissioned to co-author a report providing a roadmap for measuring and accounting for social value within the real estate industry.
The Impact Programme
The Impact Programme is the UK Government's flagship impact investing programme, which aims to increase investment into businesses in Sub-Saharan Africa and South Asia. In its first phase, TGE led the programme's impact measurement and management workstream in partnership with PwC. We also played an active role in seeding new market building innovations, including the Impact Management Project and Acumen Lean Data (now 60 Decibels), as well as supporting the CDC Group to set up a measurement system for its high impact fund.