Reported 16 days ago
Promote Giving, a new initiative announced by Joel Holsinger of Ares Management, aims to increase fundraising for charities by encouraging investment managers to allocate at least 5% of their earnings from performance fees to nonprofit organizations. The initiative, which starts with nine firms managing approximately $35 billion in assets, could potentially result in up to $250 million in donations over the next decade. This model seeks to support charities while ensuring financial returns for investors, addressing the pressing need for funding amidst cuts to foreign aid and public health system fragility.
Source: YAHOO