Ford Foundation to Put $1 Billion of Endowment in Impact Funds
- Nonprofit to shift capital over 10 years for housing, services
- Seeks market-rate profit and to support social goals
Darren Walker, president at Ford Foundation, explains the decision to commit $1 billion of its endowment over the next 10 years to funds aligned with its mission. He speaks with Bloomberg's David Westin on 'Bloomberg Daybreak: Americas.' (Source: Bloomberg)
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The Ford Foundation is committing $1 billion of its endowment over the next 10 years to money managers who invest in affordable housing and financial services for people in developing countries.
The move marks a shift by the New York-based nonprofit, from investing its $12 billion endowment in traditional assets to funds aligned with its mission that also aim to earn market-rate returns, the foundation said in a statement Wednesday.