Investment Fund Reaches $86 Million in Assets Under Management

In the world of impact investing, Variant's private credit impact fund stands out as a promising initiative. As of the end of July 2022, the fund has amassed $86m (£64m) in assets under management.

At the helm of Variant's Impact Fund is Drake Hicks, the vice president and head of impact at the company. Hicks is a key figure in the management and strategy of the fund, and as the chair of Variant's impact investing committee, he is likely involved in making decisions about the direction and focus of Variant's impact investing activities.

The Impact Fund, as an interval fund structure, is designed to address the challenges of managing liquidity in long-term impact investments. Hicks emphasised that investing in Variant's Impact Fund underscores the convergence of financial return and social good.

Over the years, Variant's Impact Fund has demonstrated a record of achieving financial return and social good. Hicks mentioned that the fund's investments aim to help communities thrive around the world, addressing financial exclusion and promoting equitable growth. The fund's strategies prioritise responsible consumption and sustainable economic practices, aligning with sustainable development goals.

The fund mobilises private credit in regions where standard financing may be unavailable, inefficient, or too costly. By doing so, it aims to unlock job creation, education, healthcare, and long-term economic mobility. The fund has been deployed across impact themes such as financial inclusion, equitable growth, and responsible consumption.

Meanwhile, the size of M&G's private markets business has grown significantly. According to a news article titled "M&G grows private markets business to £77bn in H1", the business has expanded to £77bn in the first half of the year.

Drake Hicks, in his role as the head of impact at Variant, is a driving force behind the fund's focus on creating positive social impact alongside financial returns. His statements suggest that Variant's Impact Fund is designed to make a difference in the world, while also delivering solid returns for investors.