We are pleased to announce nearly $40 million in capital commitments to successfully complete the final close of New Summit Impact Fund III. This marks another significant step in our journey to channel capital to investments focused on climate solutions, healthy communities, and economic opportunity.
As of this final close, Fund III has already made nine investments ranging from venture capital funds shaping the future of work and developing innovative climate solutions to real asset managers deploying renewable energy infrastructure projects across the nation. We anticipate making around fifteen investments from Fund III.
When we launched New Summit in 2016 to provide investors with efficient and expert access to private market investments, we were among the first companies to develop a multi-manager strategy focused exclusively on social and environmental impact. Our initial fund, called “Private Market Impact,” invested approximately $20 million in ten fund managers.
With Fund III, we remain true to our original mission: to align profitable private investments with a commitment to solution-oriented impact outcomes. In 2022, our cumulative assets under management (AUM) surpassed the $100 million mark – affirming our growing role in the market.
We want to express our sincere gratitude to all our investors and managers for their partnership. Your collaboration, now more than ever, enables our collective work to build a sustainable and inclusive economy.
Casey is the Director of Investor Relations at New Summit Investments, where he leads investment analysis and reporting, partnership development, fundraising, and communications.