Press Release – NEW YORK, NY— (May 31, 2017) — The Jessie Smith Noyes Foundation, a pioneer in the field of investing for social justice, announces the selection of Threshold Group as its investment advisor as the result of its recent open call for letters of interest (LOI). Threshold Group will work with Noyes to demonstrate how capital can drive positive social and environmental change by advancing the Foundation’s impact investing and mission-aligned investing strategies for its $55 million endowment. Through its role as an investor, Noyes aims to drive systemic impact in the areas of social justice, equality, human rights, health, and diversity.
“We were pleased to see 35 responses that presented Noyes with several partnerships, business models and investment strategies that could help us maximize our endowment’s impact to bring about a more just, equitable and sustainable world while providing attractive financial returns,” said Steven Godeke, Board Chair of the Jessie Smith Noyes Foundation. “The submissions represented a range of approaches from ESG integration to deep impact investment advisory. The results of this search confirmed our belief that, over the past 25 years since the Noyes began this journey, the partners and resources available to mission-aligned investors have increased dramatically.”
In response to the evolution of sustainable, responsible and impact investment, the Noyes Foundation is revisiting its endowment’s investment strategy to move beyond mission alignment. With the announcement of the engagement with Threshold Group, Noyes seeks opportunities to expand its social justice impacts by harnessing the power of public and private markets.
“We look forward to partnering with Threshold Group to increase the social justice impact of Noyes’ endowment with disciplined, objective portfolio management,” said Lenora Suki, Chair of the Finance Committee. “We are enthusiastic to work with Threshold’s team for their experience, knowledge and values alignment. Noyes looks forward to advancing our, and the industry’s, understanding of the intersection of social justice and investing, as well as working with Threshold’s impact investment research and impact measurement tools and reporting.”
Noyes will share key takeaways from its search process in a forthcoming white paper. The white paper aims to contribute to industry dialogue on impact investment advisor searches, including lessons learned on the current state of the investment advisor community’s integration of social and environmental impact into the investment process across asset classes and strategies.
Threshold Group, headquartered in Seattle, is a Registered Investment Advisor with approximately $3.2 billion of assets under management (AUM) with roughly $1.2 billion allocated to impact investments.
About Jessie Smith Noyes Foundation
The Jessie Smith Noyes Foundation was established in 1947 by Charles F. Noyes as a memorial to his wife, Jessie Smith Noyes. The Foundation’s mission is to support grassroots organizations and movements in the United States working to change environmental, social, economic and political conditions to bring about a more just, equitable and sustainable world.
It envisions a socially just and environmentally sustainable society in which all people are able to gain the knowledge and build the power they need to exercise their rights and participate fully in the economic, social and political decisions that affect their lives and communities.