New asset manager Palisade Impact is off to a flying start with a $400 million raising for its open-ended maiden impact fund.
Palisade Impact co-founder Steve Gross, a former Macquarie operative, said the bulk of the capital was sourced from superannuation and pension funds, and would provide enough firepower for the firm’s first six to 10 investments.He said the fundraising was helped along by Palisade Impact’s first two investments, which showed investors the types of businesses the firm was looking to back and the sort of returns it was seeking.
GigaComm’s about making fast internet affordable to more Australians, particularly those in low socio-economic regions, while Ecosave advises, designs, implements and measures emission reductions strategies.Gross, based in Melbourne, said both deals were sourced through his and co-founder Jeremy Wernert’s networks. Wernert was formerly head of Macquarie Capital Asia, while Gross ran impacting investing for Macquarie Asset Management.
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