The Aspen Institute and Prudential present a half-day Summit on the future of capitalism and impact investing. We’ll explore the ways in which impact investing has been a catalyst for change in capital markets, and where the field must go next to help drive greater financial security and more deeply shared prosperity in a rapidly changing economy. Alongside 150 leading investors, influencers, and innovators, we’ll reflect on key lessons learned about the field of impact investing, and begin to imagine the evolution of the work in 2020 and beyond. By invitation only.
Toward a New Capitalism Summit,Willard InterContinental Hotel
- 1:30pm, Registration desk opens
- 2:00pm-5:00pm, Program (speakers and agenda to be announced)
Celebrating Prudential’s $1Bn Milestone in Impact Investing, Smithsonian National Museum of African American History and Culture
- 6:30pm-10:00pm, Cocktails and program (heavy appetizers will be served)
David Bank is CEO and editor of ImpactAlpha, “Investment news for a sustainable edge.” ImpactAlpha’s high-quality content serves investors and entrepreneurs who are outperforming on positive social and environmental impact. The Brief, ImpactAlpha’s daily newsletter, has become the go-to source for the growing community of “Agents of Impact” across the capital markets. As a reporter at The Wall Street Journal, David wrote the book on Microsoft (“Breaking Windows,” 2001) and broke stories across tech and philanthropy. At Encore.org, he helped establish the category of “encore careers,” second acts for the greater good. David was a Nieman Fellow at Harvard and is a graduate of Columbia Journalism School and UC Santa Cruz.
Marla Blow is a Senior Vice President in the Mastercard Center for Inclusive Growth, the company’s philanthropic hub, as lead for North America Social Impact. In this newly created role, Marla will build strategies, partnerships and programs that advance the Center’s priorities to promote financial security; make economic development more inclusive; support the economic mobility of workers; and leverage the power of data for good.
With nearly a decade of experience in entrepreneurship and financial inclusion work, Marla most recently served as Founder and CEO of FS Card, a startup credit card company (sold to strategic acquirer in December 2018), and as a Partner with Fenway Summer. In February 2018, Ms. Blow joined the Board of Directors of Care.com (NYSE: CRCM), the world’s largest online marketplace for finding and managing family care.
Ms. Blow won the EY Mid Atlantic Emerging Company Entrepreneur of the Year Award for 2018, and has been listed as one of Fast Company’s Most Creative People in Business. Marla was featured in the April 2018 Vanity Fair “26 Women of Color Diversifying Entrepreneurship” photo shoot, and she is a Henry Crown Fellow as part of the Aspen Global Leadership Network. Previously, she was part of the Implementation Team to stand up the Consumer Financial Protection Bureau, and ultimately served as the Assistant Director for Card and Payment Markets, where she shaped the CFPB’s regulatory priorities in these markets.
Prior to joining the CFPB, Marla spent seven years in a variety of functions at Capital One in the credit card business. Ms. Blow is a member of the US Capital Chapter of YPO, and previously served on the Board of Directors of FactorTrust, a provider of underbanked consumer data, analytics and risk scoring solutions. Marla holds an MBA from Stanford University and an undergraduate degree from the Wharton School at the University of Pennsylvania.
Ellis Carr has more than 20 years of experience in the financial services and mortgage industries. Mr. Carr served as Capital Impact’s Chief Financial Officer and Treasurer from July 2012 until his appointment as President and Chief Executive Officer in May 2016. Prior to joining Capital Impact, he held various positions in the investments, capital markets, strategy and corporate finance areas within Freddie Mac and in fixed income fund management both domestically and abroad at Deutsche Bank.
Mr. Carr is an Aspen Institute Finance Leader Fellow; serves on Morgan Stanley’s Community Development Advisory Board; is the Board Chair for Martha’s Table; and Board Treasurer for HPN (the Housing Partnership Network). In 2015, he was recognized as one of the “Top 40 under 40” business executives by the Washington Business Journal. Mr. Carr graduated from Towson University with an undergraduate degree in accounting, and from Georgetown University with a master’s degree in real estate with a concentration in finance.
Jean Case, Chair of National Geographic and CEO of the Case Impact Network, is a businesswoman, investor, philanthropist and impact investing pioneer who believes in the power of business to do good, advocating for the embrace a Be Fearless approach to innovate and bring about transformational breakthroughs. Her career in the private sector, including as a senior executive at AOL, spanned nearly two decades before co-founding the Case Foundation in 1997. Jean launched the Case Impact Network to expand efforts to usher in a new era of more inclusive capitalism, focusing on unleashing business and capital as powerful forces for change and serves on the boards of National Geographic Partners and the White House Historical Association as well as on advisory boards of the Brain Trust Accelerator Fund, and at the Smithsonian and Georgetown. Jean authored the national bestseller Be Fearless: 5 Principles for a Life of Breakthroughs and Purpose.
Andrea is the Co-Founder and Executive Director of Propeller: A Force for Social Innovation, a social innovation incubator in New Orleans focused on systemic change in sectors such as food access, water, public health, and education. Propeller has accelerated over 90 new ventures that have generated over $60mm in revenues and financing in the last five years. Successes include the Healthy School Food Collaborative, which has brought healthy school meals to 43% of New Orleans public schools. Propeller’s 10,000 s.f. Propeller Incubator facility is now home to over 150 socially minded companies. Andrea was named “40 Under 40” by Gambit Magazine, 2014 Aspen Institute Scholar, 2014 BALLE Fellow, 2014 Norman C. Francis Institute Fellow, and 2010 City Business Women of the Year. She completed her B.A. at Stanford University and M.Ed. at UNO and Harvard Graduate School of Education.
Audrey Choi is Morgan Stanley’s Chief Marketing Officer and the firm’s first Chief Sustainability Officer. She serves on the Firm’s Management Committee and is the founding CEO of Morgan Stanley’s industry-leading Institute for Sustainable Investing.
As Chief Sustainability Officer, Audrey oversees Morgan Stanley’s global efforts to promote sustainability through the capital markets. Over the last decade, she has been a pioneer in bringing sustainable investing into the mainstream. As Chief Marketing Officer, Audrey is responsible for stewarding the global brand to reflect the firm’s core values of leading with integrity and exceptional ideas across its businesses and geographies.
In a career spanning the public, private and nonprofit sectors, Audrey has become a proven thought leader on how finance can be harnessed to protect the environment, strengthen communities, and create economic opportunity. Prior to joining Morgan Stanley, Audrey held senior policymaking positions in the Clinton Administration, including serving as Janet Yellen’s Chief of Staff at the Council of Economic Advisers and Domestic Policy Advisor to Vice President Gore.
Previously, Audrey was a foreign correspondent and bureau chief at The Wall Street Journal. She serves on the boards of several national nonprofit organizations focused on sustainability, community development and social justice. Audrey is a graduate of Harvard College and Harvard Business School. She was a Fulbright Scholar and a White House Fellow.
Named in 2014 one of the top 20 women in the USA working in philanthropy, social innovation and civic engagement, Cathy Clark has been an active pioneer, researchers, educator and consultant for over 25 years in the fields of impact investing and social entrepreneurship. She serves as Faculty Director at the Center for the Advancement of Social Entrepreneurship (CASE) at Duke University’s Fuqua School of Business, where she founded and directs the CASE i3 Initiative on Impact Investing and co-leads the Social Entrepreneurship Accelerator at Duke (SEAD), an accelerator working to scale impact of global health ventures in India and East Africa. She is also lead author of CASE’s online learning series for impact entrepreneurs, CASE Smart Impact Capital, and co-author of CASE’s #ScalingPathways series, in partnership with the Skoll Foundation, USAID’s Global Development Lab and MercyCorps.
A former impact investment fund manager and private foundation program officer, who taught at Columbia Business School for 9 years before coming to Duke, Clark’s work has helped thousands of entrepreneurs, investors, intermediaries, and governments around the globe improve their ability to use business as a tool for good. She helped develop the standards for B Corporations, and has coordinated global research across 15 universities using data from $4.5 billion of impact assets under management and from over 11,000 impact entrepreneurs in 29 countries. Clark was also the sole academic member of the G8 Social Impact Investment Taskforce US National Advisory Board, and was invited to track $2.5 billion in new impact investments by the Obama White House Office of Social Innovation and Civic Engagement. She is co-author of The Impact Investor: Lessons in Leadership and Strategy for Collaborative Capitalism, which reached #18 in finance textbooks on Amazon in 2014. Cathy holds a BA from the University of Virginia and an MBA from Columbia Business School, and has published over 25 books, articles and case studies. She publishes #OnImpact, a weekly newsletter on impact investing and social innovation read in over 100 countries, and tweets at @cathyhc.
Peggy Clark is a Vice President of the Aspen Institute and Executive Director of Aspen Global Innovators Group. Peggy has had a 30-year career working on issues of poverty alleviation, global health, social enterprise, and development finance. Serving in founding and leadership roles at the Aspen Institute, the Ford Foundation, Save the Children, Realizing Rights, and on boards including Root Capital, Last Mile Health, Impact Assets, the African Leaders Malaria Alliance and the Calvert Foundation, Peggy has been a leading figure in identifying and building industries, movements, and creative advocacy on key issues of our times. Peggy received a Presidential Award for Excellence in Microenterprise from President Bill Clinton, and was instrumental in passage of the WHO Global Code of Practice on the Ethical Recruitment of Health Workers. Currently, Peggy directs a portfolio of programs promoting breakthrough solutions to global development in the areas of health innovation, leadership and entrepreneurship. Previously, Peggy served as the Executive Vice President of the Aspen Institute, co-founder and Managing Director of Realizing Rights, Chair of the Women’s Program Forum at the Ford Foundation, and as the first Director of Small Scale Enterprise and Credit at Save the Children Federation.
Stephen De Berry
Stephen DeBerry uses the economy and culture to build a more just and joyful society. He is a 20+ year Silicon Valley veteran who has worked as an entrepreneur and investor for the founders of Microsoft, eBay and Lotus Software. He currently runs the Bronze Venture Fund and he’s on a mission to use tech and business for good. Stephen has been active on boards such as The California Endowment, where he helped oversee its $4 billion endowment and Planned Parenthood Federation of America, where he currently chairs the Investment Committee. Stephen earned a bachelor’s degree in Anthropology with highest honors from UCLA as well as Master’s in Social Anthropology and MBA degrees from The University of Oxford. He is a Marshall Scholar and Aspen Institute Henry Crown Fellow who Ebony Magazine and The Root/Washington Post named one of the 100 most powerful African-Americans in the United States. He lives in the San Francisco bay area with his wife and two daughters.
Rodney Foxworth is the Chief Executive of Common Future (formerly “BALLE”), a national network fighting to build economically empowered communities through equitable approaches to entrepreneurship, investing, and ownership.
Rodney’s career has focused on social entrepreneurship, philanthropy, impact investing, and economic development. Most recently, he founded Invested Impact, a consulting firm and intermediary to better connect philanthropic and impact investment capital to underrepresented social entrepreneurs. Foxworth has advised institutions such as T. Rowe Price Foundation, Legg Mason, Red Bull, Annie E. Casey Foundation, Aspen Institute, and Calvert Impact Capital.
Rodney serves on the board of directors of Nonprofit Finance Fund, the steering committee of Justice Funders, and the advisory board of Social Capital Markets (SOCAP). He has spoken at Social Finance Forum, Council on Foundations, Global Philanthropy Forum, SOCAP, Open Markets Institute, Skoll World Forum, Brookings Institution, and other stages. He has authored essays in publications such as Boston Review, Chronicle of Philanthropy, and Nonprofit Quarterly, and has been featured in Conscious Company, Devex, Forbes, ImpactAlpha, Inside Philanthropy, and The New York Times.
Andrew Kassoy, Managing Partner and Co-Founder of B Lab: Prior to co-founding B Lab with his two best friends, Jay Coen Gilbert and Bart Houlahan, Andrew spent 16 years in the private equity business; as a Partner at MSD Real Estate Capital, an investment vehicle for Michael Dell, and as Managing Director in Credit Suisse First Boston’s Private Equity Department, a founding partner of DLJ Real Estate Capital Partners. He is a Board Member of Echoing Green and LabShul. He was a member of the U.S. Working Group of the G8 Social Impact Investing Task Force and a board member of the Freelancers Union. He was raised in Boulder, Colorado and graduated with Distinction from Stanford University where he was a Truman Scholar and President’s Award winner. He is a Henry Crown Fellow at the Aspen Institute. Andrew lives in Brooklyn, New York with his wife, Margot Brandenburg, and four children, Max, Jed, Etta, and Xavier.
Andrea is Vice President of Impact Investments at Prudential. She leads the Impact Investments operating business team, which invests in both companies and funds, domestic and international. Previously, she was Vice President of Private Equity at Calvert Investments, a socially responsible mutual fund complex, managing the impact portfolio and building the research platform. Prior to that, she was a General Partner at Novak Biddle Venture Partners, a venture fund investing in early stage technology companies in the Mid-Atlantic. Andrea began her career as a corporate finance attorney at Venable. She attended the Johns Hopkins University.
Charles F. Lowrey
Charles F. Lowrey is Chairman and CEO of Prudential Financial, Inc. Prior to assuming his current roles, Lowrey served as executive vice president and chief operating officer of Prudential’s International businesses. Previously, he was executive vice president and chief operating officer of Prudential’s U.S. businesses. Lowrey also served as president and CEO of PGIM, Prudential’s global investment management business, and earlier as CEO of its real estate investment business, PGIM Real Estate.
Before joining Prudential in 2001, Lowrey was a managing director and head of the Americas for J.P. Morgan’s Real Estate and Lodging Investment Banking group, where he began his investment banking career in 1988. Earlier, Lowrey spent four years as a managing partner of an architecture firm he founded in New York City. During this time, he became a registered New York architect.
Lowrey received an MBA from Harvard University, a master’s degree in architecture from Yale University and a bachelor’s degree in architecture from Princeton University.
President and CEO, Altura Capital Monika has dedicated the last 20 years of her life to her passion: pursuing societal transformation through entrepreneurial success by providing capital and expanding opportunity to promising entrepreneurs, all of which can bring significant returns to investors and economic development impact. Altura Capital is an investment management firm that provides institutional investors the opportunity to invest with high-performing small and diverse investment firms and businesses. Small Business Community Capital (SBCC) is an SBIC Impact Private Debt and Equity fund licensed by the SBA that provides flexible capital to small and mid-sized companies, focusing on women and minority owned firms and entrepreneurs located in LMI communities. SBCC and Altura have played a pivotal role in developing an ecosystem of entrepreneurs, investors, advisors and corporations working together to harness opportunities in the lower middle market, including growing Hispanic, MWBE, and diverse owned enterprises. Monika and the firms she leads have won numerous awards and recognitions for their work on building financial capacity in minority and underserved communities. In multiple years, Latino Leaders Magazine recognized her as one of the 101 Most Influential Leaders in Hispanic U.S.A. and one of the Top 15 Latinos in Finance.
Monika sits on the Board of Directors of two private companies: Cidrines, a bread manufacturer in Puerto Rico serving the national market; and Coastal Painting Company, a single-source innovative technology solution for painting and maintenance services of condominiums, businesses, and communities in Florida. Monika serves on the Capital Advisory Board for the Billion Dollar Roundtable, an organization of leading corporations committed to spending at least $1 billion a year with diverse suppliers. She has co-lead the BDR Triad Initiative, a theory of change to accelerate strategic outcomes. Monika sits on the Boards of the Stanford Latino Entrepreneurship Initiative (SLEI), the Hispanic Heritage Foundation, and the United States Hispanic Chamber of Commerce (USHCC), where she also serves as the chair of the USHCC Foundation. Monika holds an MBA from Columbia Business School in New York, and a J.D. from the Universidad del Rosario, Bogotá, Colombia. She and her husband and business partner Jay Garcia enjoy spending quality slow time with family, friends and business partners, and, mostly through their board director roles, being executive coaches and advisors to CEO’s to help them accelerate growth and partner with Corporate America. They dream about bring instrumental to add a few diverse led and owned Companies to the Fortune 50 list.
CEO, The Robin Hood Foundation
Partner, Kapor Capital
Tracy Palandjian is Co-Founder and CEO of Social Finance, a nonprofit organization leading the development of Pay for Success financing and Social Impact Bonds, an innovative public-private partnership that mobilizes capital to drive social progress. Prior to co-founding Social Finance US in 2011, Tracy was Managing Director at The Parthenon Group, and also worked at Wellington Management Co., and McKinsey & Co. Tracy is vice chair of the U.S. Impact Investing Alliance, a trustee of the Surdna Foundation, and a Director of Affiliated Managers Group (NYSE: AMG). A former Vice Chair of the Harvard Board of Overseers and a 2019 recipient of the HBS Alumni Achievement Award, Tracy continues to serve on various Standing and Visiting Committees at Harvard University. She graduated from Harvard College magna cum laude with a B.A. in Economics and holds an M.B.A. with high distinction from Harvard Business School, where she was a Baker Scholar.
Dan Porterfield is President and CEO of the Aspen Institute. Previously, Dan served for seven years as the President of Franklin & Marshall College. He has been recognized as a visionary leader and advocate for expanding educational opportunity and improving the human condition and was named a White House Champion of Change in 2016. Prior to his appointment at Franklin & Marshall College, Dan served as Senior Vice President for Strategic Development and an English professor at his alma mater, Georgetown University, and for four years as a senior public affairs official in the US Department of Health and Human Services. He earned B.A. degrees from Georgetown and Oxford—where he was a Rhodes Scholar—and his Ph.D. from The City University of New York Graduate Center where he was awarded a Mellon Fellowship in the Humanities.
Executive Director, Aspen Financial Security Program and Vice President, The Aspen Institute
Ommeed Sathe is a Vice President and Head of Impact & Responsible Investing. The group manages a portfolio of over $1 billion in Impact Investments across an array of private asset classes that produce both financial and social returns. The group is one of the largest and oldest dedicated impact asset managers and is widely recognized for its role in shaping the field of Impact Investing. Mr. Sathe oversees portfolio strategy, investment and manager selection, asset management and reporting activities for the group. The group also consults with other Prudential business (including PGIM) on responsible investing policies and developing impact-offerings for clients. The unit has also taken on a key role in overseeing a portfolio of investments and separately managed accounts to support International Insurance’s efforts to expand to certain emerging markets.
Mr. Sathe has an undergraduate degree in neuroscience and urban planning from Columbia University; a master’s degree in city planning from the Massachusetts Institute of Technology; and a J.D. from Harvard Law School. Mr. Sathe serves on the board of B-Lab, the Non-Profit Finance Fund and Community Development Trust.
Jim Shelton, is the Chief Impact and Investment Officer at Blue Meridian Partners a philanthropic vehicle to identify and scale solutions to the problems trapping youth and their families in poverty. He also serves as a Senior Advisor to KKR and is a nonresident Fellow at the Brookings Institute. Jim was the co-founder of Amandla Enterprises and the former Deputy Secretary of Education and founding Executive Director of My Brother’s Keeper under President Barack Obama. Jim has worked in business, government, and the non-profit sectors as an operator, investor, and entrepreneur. In these roles, he has utilized management, policy, and programmatic innovations to increase access to opportunity. He holds a bachelor’s degree in computer science from Morehouse College and Master’s degrees in both business administration and education from Stanford University. He lives in his hometown – Washington, DC – with his wife and two sons.
Debra is Managing Director for Impact Investments and serves on the Executive Leadership Team of the John D. and Catherine T. MacArthur Foundation. A pioneer in impact investing, MacArthur has dedicated $500 million to this purpose. Debra’s team supports selected program strategies, including Climate Solutions and the Chicago Commitment. Her group also makes investments and grants to extend the reach of impact investing globally, with a focus on increasing the use of catalytic capital. Debra joined MacArthur in 1995, having previously worked as an investment banker at John Nuveen & Co., and as CFO for a nonprofit child welfare agency. She is a past presidential appointee to the United States Treasury Department Community Development Advisory Board and a current board member of the Mission Investors Exchange. Debra holds a Master’s degree from the Kellogg School of Management at Northwestern University and a Bachelor’s degree from Yale College.
Reuben Teague is a Vice President in the Impact and Responsible Investments group at Prudential. He leads the group’s real assets investing and is responsible for his team’s sourcing, underwriting and managing a portfolio of investments that meet Prudential’s social value criteria while providing risk-adjusted financial returns. Prudential Impact Investments manages a portfolio of approximately $1 billion in investments and typically originates between $100 million and $250 million in transactions annually. Prior to joining Prudential in 2013, Teague was co-founder and principal of Green Coast Enterprises, a triple bottom line real estate development and project management firm based in New Orleans. He participated in the development of over 1,000 units of sustainable, hazard-resilient affordable housing and over 50,000 square feet of commercial space aimed at restoring needed community resources to the greater New Orleans area. He previously was an adjunct professor in Tulane University’s Masters of Sustainable Real Estate Development program. Teague has an AB degree in economics from Princeton University and a JD from New York University School of Law. He was an Echoing Green Fellow in 2008. Teague is a board member of the Regional Plan Association and Advocates for Arts Based Education.
Martin Whittaker is the founding CEO of JUST Capital and is responsible for the overall leadership of the organization. He is also co-founder and Board member of the CREO Syndicate, a family office investment network; a Board member of the Carbon Disclosure Project U.S.; a member of the Forbes Finance Council and Forbes Contributor; and an advisor to Mission Driven Capital Partners, a private equity firm.
Previously, Martin was a founding partner and investment committee member at Sonen Capital, an impact investing firm, where he led private equity, real asset, and direct investing activities. Martin has also served as Director of MissionPoint Capital Partners, a family office-led private equity firm; Senior Vice President at Swiss Re, where he was part of the Environmental and Commodity Markets team; and Managing Director at Innovest Strategic Value Advisors, Inc., a pioneering sustainable investment advisory and research firm. Martin received his Ph.D. from University of Edinburgh, an MBA from the University of London, an M.Sc. from McGill University and a B.Sc. from University of St. Andrews. Martin has also served as an Adjunct Professor at the University of Toronto, provided expert testimony on environmental markets to the U.S. Senate, guest lectured at multiple business schools, consulted to major corporations on sustainability- and impact-related matters, and been an invited speaker, published writer, and contributor via television, print, social media, and conferences throughout his career.