MAPFRE AM/GSI launch Global Social Impact Fund

Written by Adam Cadle

02/07/2020

MAPFRE AM, the asset management arm of Spain's largest insurance group, and Global Social Impact Investments SGIIC (GSI) are joining forces to launch the Global Social Impact Fund (GSIF).

GSIF is a new investment vehicle which aims to raise €50m for high social impact companies in both frontier and emerging markets. It will initially focus on consolidated business models in sub-Saharan Africa with the longer-term view of expanding into Latin America, and will invest in three sectors: agriculture, energy and financial inclusion.

GSI will manage the fund with support from Santa Comba and MAPFRE Group as its leading investors, while MAPFRE AM will act as an investment adviser.

MAPFRE chief investment officer José Luis Jiménez said: "We are very excited about this project, and we couldn't have wished for a better partner for this. We believe that impact investment has a long way to go and, after the pandemic, socially responsible investment is going to emerge stronger, particularly investments made with social criteria."

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