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McKnight names Elizabeth McGeveran to direct program-related and mission-driven investing


July 11, 2014

The McKnight Foundation has hired Elizabeth McGeveran as Impact Investing Program Director, a new position at McKnight. Beginning this September, McGeveran will manage program-related and mission-driven investments for the Foundation. Her hiring is an important next step in McKnight’s broad commitment to channel an initial target of $200 million into impact investments that generate financial return, uphold fiduciary duties, and align with strategies to advance McKnight’s program impact and learning.
 
McGeveran most recently consulted for New York-based Confluence Philanthropy, a nonprofit capacity-building network for foundations aligning asset management with efforts to promote environmental sustainability and social justice. Until 2013, McGeveran was senior vice president of governance and sustainable investment at F&C Asset Management, a London firm. Over the course of 14 years (telecommuting from Minnesota for the past eight), McGeveran led F&C’s corporate governance, social, and environmental engagement activity, and helped establish the company’s market-leading socially responsible investment business.
 
Prior to F&C, McGeveran was managing director of Co-op America (now Green America), a national nonprofit consumer and investor education organization,where she developed programs and communications strategies around tobacco investments, sweatshops, and deforestation. And for three years as media director of the U.S. Social Investment Forum, she guided public education initiatives about socially responsible investing.
 
Throughout her career, McGeveran has worked extensively with diverse stakeholders including fund managers, investment consultants, research agencies, private investors, journalists, nonprofits, and Fortune 500 companies. Holding a Carleton College BA in Sociology and Anthropology, with a minor in Political Economy, McGeveran also chaired the Amnesty International USA investment committee and has served as a “life skills” coach at the Jeremiah Program, a Minneapolis-St. Paul campus community for single mothers breaking the cycle of poverty. She is a former member of the U.S. Advisory Committee for FTSE4Good, an innovative series of real-time indexes reflecting the performance of socially responsible equities.
 
Impact Investing at McKnight
With a target of $200 million in impact investments over the next five years,the Foundation’s comprehensive approach will embrace a full range of tools and public and private investments in equity, debt, and real estate. Initially, McKnight will focus on opportunities to accelerate the transition to a low-carbon economy and to support sustainable regional development in Minneapolis-St. Paul.
 
Beyond the program-related and mission-driven investments to be managed by McGeveran, McKnight is driven by deep interests in social, environmental, and economic sustainability to measure program alignment within its full asset base. With a long-term philanthropic objective to function in perpetuity, McKnight pursues investment strategies that preserve and strengthen its endowment through market-rate risks and returns, in addition to positive program impact.
 
NOTE: McKnight does not accept unsolicited proposals for program-related or mission-driven investments.

ABOUT THE MCKNIGHT FOUNDATION

The McKnight Foundation seeks to improve the quality of life for present and future generations through grantmaking, collaboration, and encouragement of strategic policy reform. Founded in 1953 and independently endowed by William and Maude McKnight, the Minnesota-based family foundation had assets of approximately $2billion and granted about $86 million in 2014. Learn more at mcknight.org, and follow us on Facebook and Twitter.


MEDIA CONTACT


Tim Hanrahan, McKnight Communications Director, 612-333-4220


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