Cambridge Associates Announces Formation of Mission Investing Group

February 25, 2008




Research Initiative Will Serve Growing Global Client Interest In Mission-Related Investing


BOSTON--(BUSINESS WIRE)--Cambridge Associates, a leading provider of independent investment advice and research to institutional investors and private clients, has announced the launch of the Mission Investing Group, dedicated to helping clients in the rapidly emerging arena of mission-related investing.

Cambridge Associates will be working with several partners for this initiative including the Annie E. Casey Foundation, the F.B. Heron Foundation and The Meyer Memorial Trust Foundation. The Annie E. Casey Foundation fosters public policies, human service reforms and community supports that more effectively meet the needs of today’s vulnerable children and families. The F.B. Heron Foundation is dedicated to supporting organizations with a track record of building wealth within low-income communities. The Meyer Memorial Trust Foundation is a community foundation, focused on Oregon and Southwest Washington that has invested in local venture capital, clean tech and buyout funds. These organizations are leading representatives of the “2% for Mission Campaign”, which encourages foundations to invest at least two percent of their assets – above and beyond the charitable distributions – in mission-related investments.

“The formalizing of our efforts in the mission-related investing area is a natural extension of the thorough research we’ve always provided to our clients,” said Sandra A. Urie, Cambridge Associates President and CEO. “We are pleased to be able to respond to their growing interest with the support of The Annie E. Casey Foundation, the Meyer Memorial Trust and the F.B. Heron Foundation as our partners.”

The Mission Investing Group will be assisting interested clients with carefully crafted investment plans that will provide them with the opportunity to participate in this area in a meaningful way. The Group will develop a detailed understanding of key players in the mission-related investing universe, construct a manager database, as well as define best practices for institutions regarding the establishment and implementation of these types of programs. Annual performance reports for each type of mission investing strategy, such as tobacco-free and clean tech, along with a mission investing resource guide will also be developed.

Cambridge Associates’ Mission Investing Group will be headed by Kevin Stephenson, managing director, with support from consultants Tom Mitchell and Kyle Johnson, as well as a number of the firm’s manager research specialists.

“With the increasing interest in mission-related investments, foundations can benefit from high-quality resources to assist in expanding their PRI and market rate double-bottom line portfolios,” said Burt Sonenstein, Vice President and Chief Investment Officer of the Annie E. Casey Foundation. “The Casey Foundation has allocated $100 million or three percent of assets, to mission-related investments and will extensively draw upon the Mission Investing Group to expand our portfolio. Cambridge Associates brings knowledge and expertise that allows Casey and other foundations to supplement internal investment expertise in a cost-efficient way. I’m delighted that the outstanding capabilities and resources of the Mission Investing Group will now be available to the Casey Foundation and to chief investment officers and investment committees in all foundations and other endowed institutions.”

"Given the growing interest of foundations and other institutional investors in investing proactively to address the challenges of the 21st Century - from community development to climate change - the decision of Cambridge Associates to create a dedicated Mission Investing Group is both timely and welcomed," said Sharon B. King, President of the New York-based F.B. Heron Foundation. "Harnessing the power of the capital markets for positive social and environmental impact is essential. It is appropriate that tax-advantaged institutions, such as foundations and endowments, begin to invest for mission in a thoughtful and rigorous way."

“Market rate mission related investing offers tremendous potential for foundations to employ their assets in ways that create new value and deliver greatest societal benefit,” said Doug Stamm, CEO of the Portland, Oregon-based Meyer Memorial Trust. “Cambridge Associates’ early entry into this field not only signals the coming of age of the mission-related investing movement, but most importantly will speed the delivery of robust manager selection and asset allocation tools to the foundations field.”

Founded in 1973, Cambridge Associates delivers investment consulting, independent research, and performance monitoring services to more than 850 institutional and private clients worldwide. The firm has nearly 850 employees serving its client base globally and maintains offices in Arlington, VA, Boston, Dallas, London, Menlo Park, CA, Singapore, and Sydney. Further information is available at www.cambridgeassociates.com.