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Northwestern Mutual Announces $100-Million Impact Investing Fund to Address Inequality and the Racial Wealth Gap
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Northwestern Mutual launches $100 million investment fund focused on Black and African American communities
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Social innovation is a path to lasting change in North Texas
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BMO Capital Markets to launch Energy Transition Group
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BMO Capital Markets announced that it is establishing a dedicated Energy Transition Group to support clients in pursuit of opportunities driven by the increasing momentum of the global economy’s shift in production and consumption of energy.
“BMO is focused on being our clients’ lead partner in their pursuit of energy transition opportunities as they respond to regulatory and stakeholder initiatives related to a net-zero future,” Dan Barclay, CEO and Group Head, BMO Capital Markets said in a media statement.
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“Our Energy Transition Group will accelerate our leadership position as the global economy undergoes structural changes in how energy is produced and consumed.”
This year, HBS piloted its first student-run Impact Investing Fund, focused on investing in BIPOC-led and owned small businesses in the Massachusetts area. Since launching, the fund has raised $200k, completed diligence on eight businesses, and is in the process of executing its first investment.
Small businesses are a major growth lever for wealth creation and employment in the United States. Yet, many BIPOC-led and owned businesses currently face systemic barriers to raising capital, including difficulty accessing loans, and lack of access to friends and family equity given the history of racial disparities in the US.
Racial injustice has historically presented itself in many forms including practices such as slavery, redlining, white-only or white-preferred employment quotas and has led to stark economic inequity and disparities by race. Massachusetts is no exception. The Federal Reserve Bank of Boston found the average net worth of a white family was $250,000, compared with $