Macquarie 50th Anniversary Award
The Macquarie 50th Anniversary Award funding will support the development of 20-25 Pay for Success projects, which will reach an estimated 20,000-25,000 individuals over the life of the grant. The remaining funds will be used as seed capital for a $US50 million evergreen fund, which will sustainably recycle returns and unlock additional impact investment capital, ultimately benefitting hundreds of thousands of low-income Americans.
In capital to be unlocked
Pay for Success programs developed through the Award funding
Individuals assisted over the life of the funding
In this video Stephanie shares how participating in a diesel technician training program supported by Social Finance helped her launch a promising career that provides for her and her son.
In FY2021, Social Finance, working in national impact finance and advisory, launched three new Career Impact Bond projects in partnership with Acuitus, General Assembly and American Diesel Training Center.
In FY2022, working with the public, private and social sectors, Social Finance developed relationships with 65 new partners and mobilised $US65 million of capital for projects in its economic mobility portfolio. This portfolio has increased access to effective education and training programs for approximately 2,500 students, with the goal of preparing workers for jobs that lead to sustainable careers and a more equitable society.
Social Finance are driven by the belief that social and economic systems should enable all people to thrive, and the conviction that we can create the most meaningful and measurable change in our communities when governments and markets work together.
"Fifty years ago, 90 per cent of children in the US went on to earn more than their parents. Today it is just 50 per cent. Meanwhile, 40 percent of employers face labour shortages, resulting in over 7 million unfilled jobs nationwide. With the Macquarie Award, we will build a bold set of impact investments to address the dual challenges of declining economic mobility and a growing skills gap in our economy."
Tracy Palandjian, CEO, Social Finance