Indigenous Infrastructure Investment Fund (IIIF)
Impact Investing Partners has launched the Indigenous Infrastructure Investment Fund (IIIF) - a fund which invests in real assets that deliver a positive social and economic impact for Indigenous communities.
The fund is a private wholesale trust and aims to provide attractive, stable returns to investors. It also has a target of 50 per cent indigenous investors within two to five years. Perpetual Corporate Trust is the custodian and wholesale trustee of the fund.
The IIIF is seeking to invest in 15 to 20 direct investments and is targeting total investments of $500 million over three years.
Investments will seek to:
- Deliver attractive returns for their asset class and meet or exceed return targets of the fund.
- Improve the economies of Indigenous communities.
- Close an essential service gap for Indigenous communities (e.g. reliable energy, safe drinking water, suitable health and education) that are aligned to UNSD (United Nations Sustainable Development) Goals.
- Greatly increase Indigenous direct economic engagement via employment, procurement and leasing with Indigenous landholders.
"I think our Indigenous Infrastructure Investment Fund provides the first opportunity of its kind in Australia. It's an exciting opportunity. Maybe a once in a lifetime opportunity to address some of the significant barriers faced by Aboriginal and Torres Strait Islander communities. We are developing a smart way to utilise the capital (or dollars) of people or organisations that are already interested in addressing social issues," managing director and Luritja man Chris Croker says on the group's website.
For an in-depth analysis you can read this article on The Sustainability Report.
“A better way”: Q&A with Impact Investment Partners' Chris Croker
Chris Croker is managing director and one of the founding partners of Impact Investment Partners. Impact IP assists Aboriginal and Torres Strait Islander communities better share in the economic and business opportunities on their land or in their communities through linking them with investors. Chris tells Industry Moves about Impact IP’s recently launched Indigenous Infrastructure Investment Fund and how funds like this can address social issues in Australia. He also shares a glimpse into his 21-year-old self.