NEW YORK: Private investors seeking alternatives to traditional charitable donations are embracing social impact investing. Philanthropic foundations like Rockefeller and Robin Hood and global financial institutions like Goldman Sachs and Bank of America Merrill Lynch are already on board.
These strange bedfellows are using public-private partnerships to finance efforts targeted at fighting chronic and rampant societal problems such as insufficient access to education, healthcare, affordable housing and employment.
In the past four years there have been 25 social impact bonds worldwide…