Global investment manager AllianceBernstein (AB) announced today a new strategic partnership with venture capital and private equity firm Impact Engine, aimed at enhancing the impact offerings for Bernstein Private Wealth Management, AB’s private wealth business.
Founded in 2012, Chicago-based Impact Engine is a women-owned and led business, investing in companies driving positive impact in education, economic empowerment, health, and environmental sustainability through both direct company investments and funds.
Priya Parrish, Partner & Chief Investment Officer of Impact Engine, said:
“This strategic relationship supports our mission as a Public Benefit Corporation to engage more investors, entrepreneurs, and advisors in a market where financial returns are linked to positive social impacts, and it will also contribute to the growth and diversification of the impact investing industry.”
According to AB’s Chief Responsibility Officer Michelle Dunstan, the partnership comes as demand is building significantly for the firm’s sustainability and impact-focused investment offerings, with AB’s purpose-driven Portfolio’s with Purpose range growing 37% over the past year to nearly $30 billion in AUM.
“This significant growth represents a strong desire from our clients to have their investments generate positive, tangible change in addition to financial returns. Our firm recognizes that making an impact through investments cannot be done alone; this partnership with Impact Engine reflects our global focus on creating a better future while generating the financial outcomes our clients desire.”
The new partnership will focus on purpose-driven investments supporting environmental sustainability, economic opportunity, and health equity across venture capital, growth equity and buyout managers.
Beata Kirr, Co- Head of Investment Strategies at Bernstein Private Wealth Management, said:
“This differentiated and exciting partnership with Impact Engine will enable Bernstein Private Wealth to provide access to innovative impact-driven private companies, something a growing roster of our clients is seeking, and we could not provide without this partnership. After searching for the right partner to grow with in this space, we are looking forward to syncing up with the team at Impact Engine to generate attractive returns for our clients through investments that can also make a real, positive impact in the world.”