Impact Investing

Why conditions in the private markets impact investing space could finally be ripe for secondaries activity.

While LPs are 'not leaving' impact, investors have limited capital to deploy into the market, which is heavily dominated by emerging managers, a secondaries buyer said at PEI Group’s New Private Markets Investor Summit.

As impact investors increasingly seek liquidity, sustainable secondaries funds are 'drinking out of a fire hose'.

The firm has registered BlueEarth EM Impact Secondaries II, a regulatory filing shows.

Tikehau has raised more than €1bn for smart infrastructure company Egis.

Mirova first invested €150m in TagEnergy in 2022.

There was around $20bn of impact secondaries volume last year, attendees at PEI Group's Impact Investor Global Summit 2025 heard last week.

The firm closed its fourth dedicated impact secondaries fund on $252.2m in July, short of its $350m target.

Commonfund Environmental Solutions II has sleeves for private equity fund investments, direct and co-investments, secondaries and real assets.

Clean Growth VI is 60% invested and its first distributions are scheduled for later this month.