Regenerative economic models create value and expand markets, rather than undermine them, says Kat Taylor. Taylor is an investor and philanthropist, and alongside her husband Tom Steyer founded TomKat Foundation. She is also the co-founder of the Beneficial State Bank and co-founder of the TomKat Ranch Educational Foundation. Taylor was also one of the speakers at the New Private Markets Investor Summit in New York in November. That's where we recorded this episode of the podcast in which Taylor...
Dec 15, 2025•16 min•Ep. 18
Having shot to prominence in the early part of this decade, have sustainability-linked loans (or SLLs) become an enduring part of the private credit landscape? Or have they quietly gone out of fashion? In this special edition of the podcast, co-hosted with PEI Group affiliate publication Private Debt Investor , we seek to chart the rise of sustainability-linked loans and assess how they are being used today. To recap: these loans feature a margin ratchet whereby the borrower’s performance agains...
Dec 09, 2025•22 min•Ep. 17
Two major talking points at this year's New Private Markets Investor Summit: North America were the transformative force of AI and the pressing need for liquidity in private markets portfolios. While neither of these topics are unique to impact or sustainable investing, they are of paramount importance and dominated discussions on stage and off. In this episode, Jennifer Kenning, founder and CEO of Align Impact who served as expert chair for day one of the event, joins New Private Markets ' Toby...
Nov 07, 2025•13 min•Ep. 16
When Kenza Himmi, the head of impact investing and partnerships at the United Nations Joint Staff Pension Fund, attends a pitch meeting with a fund manager, she keeps an ear out for a few non-negotiable items. She wants to know the fund's intent and whether it is designed to direct capital to environmental and social solutions. She wants to know how the fund measures the impact of its investments. And, of course, she wants to know if a fund’s investments will create value over time. Some manager...
Oct 22, 2025•18 min•Ep. 15
Is the field of impact investing growing in a healthy way, or is it being co-opted by firms for whom positive impact is secondary to asset gathering? In this episode of The New Private Markets Podcast , we explore this fundamental question with Jed Emerson, a true veteran of the impact field, an author of multiple books and papers on the topic, and until April of this year, the chief impact officer for US wealth management firm AlTi Tiedemann Global. He's also the founder of Blended Value Group ...
Sep 16, 2025•19 min•Ep. 14
Financial performance is the key issue that will determine the viability of impact investing at scale in the long term. Given the relative youth of most impact funds, it is a topic still open to debate. Asset manager Schroders has been examining the performance of its impact investments. The UK-headquartered firm released a study in collaboration with Oxford University’s Business School earlier this year which examined impact’s performance in listed equities. It has now released further research...
Jul 15, 2025•16 min•Ep. 13
When it comes to impact, private credit is often considered to be lagging behind other private markets asset classes. There are, however, signs that this is changing. Debt funds to hold a final close raised a combined $5 billion in 2024, the second-highest total of any asset class behind private equity. Dutch institution APG Asset Management is one major LP to turn its attention to impact debt. The €616 billion fund recently moved into infrastructure debt with an impact focus and is considering ...
May 30, 2025•21 min•Ep. 12
Learn more about the Impact Investor Global Summit in London here Don't be put off by political noise. Reduced competition and growing demand for energy has made investment in US renewable energy generation easier and more attractive, says Natalie Adomait, managing partner and chief operating officer in Brookfield's renewable power and transition group. Adomait is one of the speakers at the Impact Investor Global Summit on May 20th and 21st in London . In this pre-event special episode of The Ne...
May 14, 2025•24 min•Ep. 11
How do you create an impact strategy that passes muster with LPs? The question is on the agenda for both our upcoming Impact Investor Global Summit in London in May and for this special event preview episode of The New Private Markets Podcast . Ben Constable Maxwell is head of impact strategy at UK-based global investor M&G Investments . The organisation sits on both sides of the LP-GP relationship, managing its own impact strategies in private equity and private credit, as well as backing o...
May 12, 2025•17 min•Ep. 10
One of the many big unanswered questions in climate finance is how to channel capital to the Global South, where it is arguably needed the most. The global impact investing market is now worth $1.57 trillion, according to the Global Impact Investing Network’s latest market sizing, though less than one-quarter of this reaches growth markets. Meanwhile, fast-growing populous nations in South Asia, Southeast Asia and Africa are set to account for an expanding proportion of global energy needs and e...
Apr 14, 2025•33 min•Ep. 9
Capricorn Investment Group is an unusual organisation. Born from the private wealth of billionaire and former eBay president Jeff Skoll, it now operates a number of different sustainability-oriented strategies from its bases in New York and Palo Alto, and acts as an outsourced chief investment officer for other foundations and endowments alongside the Skoll Foundation. Among its strategies is the Sustainable Investors Fund, a programme which seeks to add scale to the sustainable investment unive...
Mar 26, 2025•12 min•Ep. 8
The risks that climate change and biodiversity loss pose to portfolios have become more understood in recent years. However, inequality, as well as social risks and opportunities, remain difficult to understand and evaluate. The Taskforce on Inequality and Social-related Financial Disclosures is seeking to address this. The initiative is developing a framework to facilitate more effective disclosures about impacts, dependencies, risks and opportunities related to inequality. In this episode, New...
Mar 19, 2025•27 min•Ep. 7
Thanks to initiatives such as Ownership Works, a growing number of private markets firms have begun to integrate employee ownership schemes. However, few firms have gone further in this regard than Apis & Heritage Capital Partners . Founded in 2020, the firm finances the conversion of companies with substantial Black, Indigenous and People of Color (BIPOC) workforces into 100 percent employee-owned businesses through its employee-led buyout strategy. The firm closed its first fund in 2022. I...
Mar 12, 2025•20 min•Ep. 6
The transition to a low- or no-carbon economy requires more than just money. It requires a combination of skills and capital that has not traditionally existed in private markets. This was the view taken by Charles Cherington and Troy Thacker, who in 2017 co-founded Ara Partners to take a "builder" approach to the decarbonisation of industry, with a particular focus on difficult-to-abate sectors. Eight years later, the firm has raised three generations of its flagship private equity fund, and is...
Feb 21, 2025•18 min•Ep. 5
Singapore's Temasek is a large investor in both dollar terms and in terms of its influence in private markets. As of March 2024, it had S$389 billion ($291 billion; €278 billion) in assets under management and has become known for its focus on sustainability and climate investing. For around five years it has had a formalised approach to impact investing. Leading that formal approach is Benoit Valentin, one of our 50 influencers in sustainable private markets. Valentin is Temasek's head of priva...
Feb 21, 2025•25 min•Ep. 4
The concept of employee ownership in private equity – whereby all workers at a portfolio company benefit from a successful exit – has caught on. And it continues to gather pace. One individual – KKR 's co-head of private equity Pete Stavros – has arguably done more than anyone to build momentum behind this trend, through both KKR's portfolio and through Ownership Works, a non-profit he founded with his wife Lindsay. Now Stavros has taken on an additional mission: to encourage greater use of ESOP...
Feb 21, 2025•22 min•Ep. 3
Sustainability and ESG have faced – and continue to face – a political backlash. At one end of the spectrum, the view of ESG is that it has gone too far; that it has become a vehicle for pushing woke ideologies without regard for the financial implications. At the other end, it represents access to better information, prudent investment risk management and value creation opportunities. So how does a modern private markets mega firm position itself to cater to potentially diverging opinions among...
Feb 21, 2025•26 min•Ep. 2
The New Private Markets Podcast focuses exclusively on sustainability issues in private equity, venture capital, private debt, real estate and infrastructure. Join the editorial team behind New Private Markets as they pick through the sustainability trends shaping these asset classes, from ESG to impact and beyond, with help from industry insiders. To subscribe, search for The New Private Markets Podcast wherever you like to listen, or go to www.newprivatemarkets.com/podcast/...
Feb 20, 2025•59 sec•Ep. 1
