MICROCAPITAL BRIEF: Citing “Impatience with the Pace,” Calvert Impact Restructures to Boost Microfinance, Green Investment

US-based NGO Calvert Impact Capital is rebranding itself as Calvert Impact, a name it has given to the NGO that will hold a group of subsidiaries that will continue to serve retail investors, institutional investors and financial advisors. CEO Jennifer Pryce stated, “We found that our original organizational framework sometimes prevented us from going bigger and bolder…. Our strategy reflects our impatience with the pace of adoption across the capital markets. We…need to double down on what we know works in and for communities.”

Calvert Impact subsidiaries will continue with the organization’s past activities, such as offering Community Investment Notes in denominations as small as USD 20 as well as structuring deals, launching investment vehicles and providing advisory services. Meanwhile, the new organizational framework is intended to enable faster growth as a “more flexible platform from which to expand and diversify activities in lending, structuring services and new product development” including “for investors focused on reducing carbon and supporting unbanked small business.”

Calvert Impact was created in a process spanning 1990 through 1995. During the quarter ending June 2022, the NGO issued two investments totaling USD 10 million, bringing its portfolio to USD 490 million, deployed in countries of high and low income in Africa, the Americas and Eurasia. The organization’s assets total USD 675 million.

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