TwinRiver Capital, an impact investment firm, has launched in Toronto and Boston. The firm was founded by Eric Wetlaufer, formerly global head of public market investments at Canada Pension Plan Investment Board, Adam Jagelewski, formerly an impact investing executive with MaRS Discovery District, and Ilse Treurnicht, formerly CEO of MaRS. TwinRiver secured an undisclosed anchor investment from its partner, wealth manager Cidel Asset Management.
TORONTO, July 14, 2021 /CNW/ – A new global impact investment firm, TwinRiver Capital, launches today in Toronto and Boston.
TwinRiver is focused on serving a new generation of private, public and philanthropic investors looking to make a positive difference with their capital. The TwinRiver platform will provide those investors with opportunities to achieve tangible social and environmental impacts alongside financial returns – the “twin rivers” of a future financial system.
The launch of TwinRiver is timely. A heightened sense of urgency about tackling multiple global challenges is driving investor interest, and impact investing is moving into the financial mainstream. TwinRiver will source investment opportunities in critical areas such as health, environment, and economic inclusion. Within those broad areas is a wide range of exciting options including new solutions to unmet medical needs, climate change mitigation, new models of affordable housing, reskilling and more inclusive access to financial services, all key components of a more equitable recovery from Covid-19.
The co-founders, Eric Wetlaufer, Adam Jagelewski and Ilse Treurnicht, and team members bring complementary impact experiences, strong networks and deep investing expertise to TwinRiver – from global institutional investment and portfolio management, to venture capital, impact product development and impact measurement, as well as supporting and building impact organizations through cross-sectoral collaboration.
Eric is a seasoned global institutional investor, as Chief Investment Officer at Putnam and Fidelity Investments and most recently as Senior Managing Director, Global Head of Public Market Investments at Canada Pension Plan Investment Board (CPPIB). Adam spent the last decade launching new products and services instrumental in the formation of the impact investing field at the MaRS Centre for Impact Investing. Ilse served as CEO of MaRS for 12 years; her career spans research, growing health and cleantech firms, venture capital and policy. The team has extensive co-investor networks, from impact-first investors to funds and institutions in Canada and abroad. They are also closely connected to a wide range of technology and social entrepreneurs, leading academic institutions and the global impact community.
The TwinRiver platform will offer products that span the risk/return spectrum and include a publicly-traded equity impact strategy, alongside private equity through both funds and individual deals, private debt, as well as new impact products such as venture philanthropy and targeted outcome contracts. In addition, the TwinRiver team will provide advisory support to private investors, institutions, foundations and family offices interested in a wider-angle model for deployment of their assets. As impact investing continues to evolve to address complex societal issues, TwinRiver will select dynamic and compassionate strategies that contribute to long term solutions.
“We’re creating a new kind of investment firm – one with impact at the centre of everything we do – but fully leveraging the market, breakthrough technologies, new business models, systems innovation and a wide range of partnerships. That shift in orientation can make a real difference in this critical post-pandemic period,” said Ilse Treurnicht. “This initiative could not be better timed.”
“Our goal is to help bring impact investing to a much broader circle of clients, with the rigour and investment discipline of top tier investors,” said Eric Wetlaufer. “These clients should have access to high-calibre products and services that go beyond simple exposure to passive ESG metrics. TwinRiver will meet their requirement for clarity of purpose, innovative execution, and measurable results.”
“Philanthropy is changing as a new generation of decision makers faces urgent and complex demands. We now see more family offices and foundations investing through donor-advised vehicles in their priority issue areas,” said Adam Jagelewski.
To fast-track its launch, TwinRiver has secured a strong partnership with Cidel Asset Management Inc. (CAM), one of Canada’s leading independent wealth management firms. The partnership includes an anchor investment, a full range of investment, compliance and back-office services allowing the TwinRiver team to focus on building its impact platform and products, while leveraging Cidel’s established investment infrastructure and client networks. Investment management services are provided by CAM and its advisors.
“Cidel is very excited to be a founding partner with TwinRiver, and to support the growth of this important new firm. We see the growing demand for impact products from our clients. We are confident that the TwinRiver team is uniquely positioned to deliver on the promise of impact investing for both individual investors and institutions,” said Henry Perren, President of Cidel.
TwinRiver will launch its first products and services in the early fall and the team welcomes the opportunity to explore collaboration with family offices, foundations, institutions and change makers.
About TwinRiver Capital
TwinRiver Capital is a new impact investment firm focused on the dual mission of advancing positive environmental and societal impact globally, while also delivering financial returns. TwinRiver is mobilizing private, public and philanthropic capital to develop and scale new solutions in three broad areas of impact: energy and environment, health and wellbeing and inclusive economic growth. TwinRiver’s impact platform will include a complementary suite of products, from public market funds to private impact deals and funds, as well as pioneering new offerings in areas such as venture philanthropy. In addition, TwinRiver offers advisory support for institutional investors, foundations and family offices, as well as policy makers expanding their impact strategies. The TwinRiver team is based in Toronto and Boston, with extensive experience and strong networks across Canada and internationally.