Casey Taylor

Dedicated impact investment fund manager, Conscious Investment Management (“CIM”), has released its second annual Impact Report which shares details of its investment activities and portfolio impact performance for the 2021/22 year.

Approximately A$300 million has been deployed into a total of eight investments, across social and affordable housing, specialised disability accommodation, distributed solar and social impact bonds. These investments have been made alongside eight Impact Partners, who are values aligned organisations with operating experience and a frontline understanding of the needs of the end beneficiaries of the investments, as well as the support of over 500 investors who have incorporated impact investment into their portfolio.

The largest investment made by CIM is in Victorian social housing, under a unique partnership with the Victorian Government and community housing association, HousingFirst. Under this partnership, CIM will invest approximately A$150 million to fund the acquisition of up to 307 apartments for social and affordable housing tenants. To date, CIM has financed a total of 260 new social and affordable apartments in 18 buildings across Melbourne. 200 of these apartments have settled and are leased up.

In addition to sharing highlights from the portfolio, the report sets out CIM’s framework for impact measurement and provides case studies on key investment themes – outlining the challenge and outcome of each investment alongside its impact measurement score. The report also includes interviews with CIM’s Impact Partners, stories about people supported, and information on the impact that CIM is having at a corporate level.

Casey Taylor, Director, said: “As the impact investment industry grows, thoughtful and accurate measurement is more important than ever. Through this report, we continue to build our track record in measuring, and transparently communicating our impact, recognising that we can only manage the impact that we can measure.

Our portfolio aims to deliver positive social or environmental benefit, and this report helps to communicate the powerful stories and outcomes that CIM’s investors have had through their investment.”

Today, assets financed by CIM’s investors have provided over 260 new social and affordable homes, 72 Specialist Disability Accommodation apartments, and 55 distributed rooftop solar assets (renewable energy equivalent to planting almost 300,000 trees). Through social impact bond arrangements, investor capital has supported over 100 vulnerable children and their families through challenging times in the education and out-of-home care systems.

“Our impact measurement methodology uses the leading global impact measurement framework, the Impact Management Project, which considers impact achieved across five dimensions: what, who, how much, contribution, and risks. We also align with the United Nations Sustainable Development Goals and layer in the Global Impact Investing Network’s Impact Reporting and Investing Standards metrics – enabling investors to aggregate their impact at a portfolio level.

We hope to continue to grow together with our investors and Impact Partners to contribute to better outcomes across our three core impact themes, being Environment and Climate, Health and Education and Social Infrastructure. In 2023, CIM is intending to continue this impact by launching new funds focused on these and new investment areas,” she added.

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Casey Taylor

Dedicated impact investment fund manager, Conscious Investment Management (“CIM”), has formally launched its first Reflect Reconciliation Action Plan (“RAP”). Developed in consultation with Reconciliation Australia, the Reflect RAP marks the beginning of CIM’s reconciliation journey, guiding its ongoing commitment to collaborating with Aboriginal and Torres Strait Islander people and communities to affect positive and meaningful change.

To support the implementation of its RAP and ensure governance and oversight, CIM has assembled a RAP Working Group championed by Chief Investment Officer Matthew Tominc, with the aim to establish Aboriginal and Torres Strait Islander representation.

Casey Taylor, Director and RAP Working Group Chair, said: “We are a fund manager with a strong sense of purpose, and we recognise that reconciliation with Aboriginal and Torres Strait Islander peoples is integral to this cause. This RAP provides a framework for how we will work with Aboriginal and Torres Strait Islander peoples and businesses to promote reconciliation through our investing activities, partnerships, employment and operations.”

Among the scope of activity outlined in the RAP, over the next year CIM will increase its understanding and recognition of First Nations histories, knowledge and rights through cultural competency training, as well as increase First Nations supplier diversity to support improved economic and social outcomes. At the investment level, CIM will formally consider impacts on First Nations peoples and communities in its due diligence and investment committee processes.

“Through the RAP process, we will seek to understand how we can be more thoughtful investors, so we can tailor our approach and drive better outcomes for Aboriginal and Torres Strait Islander peoples and communities. We will strive to create a workplace culture of awareness, reflection, and learning, to support our team on their personal reconciliation journeys, and to support our broader stakeholders to achieve the same,” Ms Taylor added.

CIM has around $250 million under management from a range of values-aligned investors including high net worth, charitable foundations and institutional investors, and has invested capital in a range of sectors – from social and affordable housing and Specialist Disability Accommodation, to renewables, and social impact bonds.

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Queenie Tran

Conscious Investment Management has appointed Queenie Tran as a Director in its investment team, as it continues to grow its capability within the specialist disability accommodation (SDA) and social housing sectors.

Queenie will lead the impact investment fund manager’s property investments and asset management in SDA and social and affordable housing; as well as seeking to maximise its impact through active involvement in policy and advocacy for these areas.

Queenie’s experience in SDA is unparalleled, having spent more than seven years in not-for-profit housing roles, and over 15 years in access and architectural design. Queenie’s most recent role was Chief Operating Officer and Acting-CEO of Summer Housing, Australia’s largest SDA provider, where she focused on property acquisition, design and delivery including ongoing tenancy and asset management.

Commenting on the appointment, Conscious Investment Management, Chief Investment Officer, Matthew Tominc said: “We are delighted to have such a highly respected and experienced professional as Queenie join the team, after working together closely in her previous role at Summer Housing.  It will increasingly be important for impact investment fund managers to have in-house asset management experience, to ensure maximum impact and financial returns of assets, and we look forward to working closely with Queenie on our current and future investments.”

Director, Queenie Tran, said: “Housing is critical infrastructure that forms the basis of social and economic stability for all. I am excited to join Conscious Investment Management to invest and develop assets including SDA and social and affordable housing that provides a positive social impact.”

In October 2021, Conscious Investment Management announced a landmark social housing investment, alongside the Victorian Government and community housing organisation, HousingFirst. Conscious Investment Management also continues to expand its investments in specialist disability accommodation alongside not-for-profit partner Summer Housing.

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Casey Taylor

Dedicated impact investment fund manager, Conscious Investment Management (“CIM”), has released its first impact report to share details of its investment activities and portfolio impact performance for the 2020/21 year.

A$238 million has been deployed in total to eight investments specifically addressing social and affordable housing, seniors housing, distributed solar, social impact bonds and specialist disability accommodation.  The largest investments made by CIM include Victorian housing, where 177 apartments for social and affordable housing have been financed, followed by 84 specialist disability accommodation apartments.

In addition to sharing highlights from the portfolio, this inaugural report also sets out the framework for impact evaluation. The report contains case studies on the impact investment themes – outlining the challenge and the outcome of each investment alongside its impact measurement score. These impact investment themes are those that CIM believes can address some of the largest global challenges relating to environment and climate, health and education, and social infrastructure.

Casey Taylor, Director, said: “By sharing our learnings and experiences to date through this report we hope to further the conversation about impact investing in Australia, and encourage greater transparency and reporting amongst the sector. Our portfolio aims to deliver positive social or environmental benefit, and this report represents the first phase in measuring and reporting on our impact journey.

Our impact measurement methodology uses the Impact Management Project (global consensus on measuring, assessing and reporting impacts on people and the natural environment) as the overall framework, which considers the impact achieved across five dimensions: what, who, how much, contribution, and risks. We align with the relevant United Nations Sustainable Development Goals and layer in the Global Impact Investing Network’s Impact Reporting and Investing Standards metrics for each impact dimension of Impact Management Project.

We hope to grow together with our investors and impact partners to contribute to better outcomes within housing, solar, and social impact bonds.”

Conscious Investment Management has invested in eight assets, deploying $238 million with the backing of 414 investors and with the support from eight impact partners, who have aligned missions and expertise. The Conscious Investment Management Impact Fund has returned 5.3%* for the year to 30 September 2021.

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Tenielle Jordan

Tenielle Jordan has joined Conscious Investment Management as Vice President, Investment Legal responsible for the oversight of legal matters across its investments.

Tenielle is an experienced transactional and corporate lawyer and joins Conscious Investment Management from Brookfield Asset Management, where she spent more than a decade working on large and complex transactions.

Tenielle joins the Conscious Investment Management Sydney office from San Francisco where she was most recently the general counsel of Brookfield Technology Partners and prior to that worked in Brookfield’s Infrastructure Group in Sydney. Tenielle has worked on transactions spanning public and private mergers and acquisitions, growth-equity and venture capital, capital raisings, restructurings and joint-ventures, both in Australia and internationally.

Commenting on the appointment, Conscious Investment Management Chief Investment Officer, Matthew Tominc said “We are delighted to have such a highly respected and experienced legal professional join the team. Tenielle joins at an exciting time for Conscious Investment Management and the impact investment market more broadly, which is increasingly showing the power of financial capital to have a sustainable, positive social and environmental impact.”

Vice President, Tenielle Jordan, said: “I have spent over a decade working for one of the world’s largest asset managers and within complex transactions. When this opportunity arose, I leapt at the chance to put my skills and experience to work with an organisation that exists to make the world a better place.”

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