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Investors are appointing GPs to deploy impact allocations through direct and co-investments – as investor demand outpaces the market of established impact funds.

It may be no shocker, but it is still something of a watershed moment.

Most fund managers set blanket net-zero targets for their entire portfolios, but some like real estate manager Fiera are finding advantages to setting fund-specific targets.

Dutch insurance provider NN Group is looking for early-stage investments in real estate, infrastructure and private equity for its €6bn climate solutions allocation, NN Group tells New Private Markets.

The firm hopes the energy transition vehicle will reach a final close in the next 12-18 months, with a first deal due this year.

Warburg Pincus hedges its bets while Partners Group, GIC and Swiss Re invest in carbon capture specialist Climeworks, as global demand for carbon offsets is set to grow to meet net-zero targets.

Temasek subsidiary Azalea has launched an ESG fund of funds to back ‘managers committed to investing purposefully to create lasting positive environmental and social impact’.

Companies developing ESG reporting software see growth correlated with the emergence of mandatory disclosures.

TPG's Rise Fund platform, overseeing $14bn in assets, was earning a net IRR of 25% as of December 2021.

The parent company of Sumitomo Mitsui Trust Bank, a gatekeeper for Japanese pension funds, is transforming its purpose to ‘balanced creation of both social value and economic value’.