SANTA MONICA, Calif.--(BUSINESS WIRE)--Turner Impact Capital is marking its fifth anniversary by announcing a significant milestone: as the nation’s largest private equity real estate firm exclusively dedicated to social impact, it has reached $3 billion in investment potential while directly impacting more than 100,000 lives in underserved communities throughout the United States.
These milestones distinguish Turner Impact Capital as one of the most active firms in the growing social impact space, fulfilling its mission by addressing key societal challenges through community-serving real estate solutions. By harnessing market forces, the firm’s investments are sustainable, scalable, and durable – improving lives and strengthening communities while earning strong financial returns for investors.
“Turner Impact Capital is built on a simple premise: that by connecting profits with purpose, we can tackle enormous challenges in the communities where help and hope are needed most,” said Turner Impact Capital CEO Bobby Turner. “At a time when capitalism is undergoing scrutiny and skepticism, we are proving that market forces can indeed be a powerful force for good. I am inspired by our progress over the past five years, and extremely excited about the opportunities ahead to continue expanding our impact.”
Since opening its doors in 2014, Turner Impact Capital has made significant investments to address three core challenges: K-12 public education, affordable workforce housing, and outcome-based healthcare in underserved urban communities throughout the U.S. In total, these investments serve more than 100,000 children, adults and seniors across the nation.
Turner Impact Capital’s achievements include:
- Building 103 public charter schools for best-in-class charter school operators serving more than 55,000 students through the Turner-Agassi Charter School Facilities Funds, which accelerate the growth of high-achieving charter schools in high-need communities;
- Acquiring, preserving and enriching 7,800 affordable workforce housing units for more than 13,000 residents through the Turner Multifamily Impact Fund, which addresses the housing crisis for low- to moderate-income households in major metropolitan areas;
- Developing or acquiring 15 state-of-the-art, community-serving healthcare facilities to serve 44,000 low-income residents through the Turner Healthcare Facilities Fund, working with premier healthcare providers that deliver top-quality care for residents of underserved communities;
- Launching a dedicated mission-driven property management firm, TI Communities, which has provided over 38,000 hours of resident-focused enrichment programs for residents of Turner Multifamily Impact Fund communities.
In all of the firm’s work, diversity is a core value. The Turner Impact Capital and TI Communities teams are 88% diverse and 51% women, giving them a unique perspective and enabling them to better identify, quantify, and mitigate the risks associated with investing in socially enriching infrastructure.
Turner Impact Capital is backed by a broad range of investors that include university endowments, financial institutions, family offices and others who seek positive financial as well as societal returns. Turner Impact Capital is also supported by the commitment of its highly distinguished partners and ambassadors, who include tennis legend Andre Agassi (co-managing partner of the Turner-Agassi Charter School Facilities Funds) as well as actress and philanthropist Eva Longoria and NBA star Chris Paul, both investors in the Turner Multifamily Impact Fund.
Below is more information about the firm’s three investment strategies:
- The Turner-Agassi Charter School Facilities Funds promote the success and growth of schools for the most accomplished charter networks in the nation. The platform combines resources, development experience and a passion for educational excellence to create learning-friendly, environmentally sustainable school facilities for these networks – enabling them to stay focused on their top priority: helping students excel in the classroom. The funds anticipate developing as many as 130 schools in high-need areas of the country by 2020.
- The Turner Multifamily Impact Fund addresses the housing crisis in America by targeting and preserving rental housing that is affordable to those earning less than the area median income, including community-serving professionals such as teachers, police officers, and healthcare workers. The fund implements targeted physical upgrades, property management improvements and sustainability practices that enhance day-to-day operations. Importantly, the fund also creates a “pride in rentership” by delivering on-site enrichment services for residents related to education, healthcare and security that improve quality of life in a measurable and meaningful way.
- The Turner Healthcare Facilities Fund addresses the large and growing need for community-serving healthcare facilities that improve access to quality care, reduce costs and ultimately improve health outcomes for residents of low- and moderate-income urban communities. The fund will invest up to $500 million to develop high-quality facilities for proven healthcare providers in communities with underserved patient populations.
Turner Impact Capital’s growth is fueled by a track record of strong financial performance, the growing demand for social impact investment opportunities, and demographic trends accelerating the need for these types of community-serving real estate investments. Unlike traditional investing, Turner Impact Capital’s holistic and multi-disciplinary approach does not speculate on market demand and is less correlated to broader economic factors such as market indices or interest rates.
About Turner Impact Capital
Turner Impact Capital is the nation’s largest private equity real estate firm exclusively dedicated to social impact. Based in Santa Monica, California, the firm focuses on creating sustainable solutions for many of today’s societal problems by developing and investing in community-enriching infrastructure in densely-populated, underserved communities. The firm seeks to generate superior risk-adjusted financial returns by investing in markets with large supply/demand mismatches of core community infrastructure (i.e. workforce housing, public schools and community-serving healthcare facilities) and a lack of institutional capital.
Turner Impact Capital seeks profits with a purpose. Learn more at: www.turnerimpact.com or @turnerimpact on Twitter.