Goldman Sachs announced Monday that it has purchased Imprint Capital, a San Francisco investment house specializing in crafting portfolios that reflect clients' environmental, social, and corporate-governance goals, Bloomberg writes.
Sale terms were not disclosed, but the Wall Street bank said it expects to complete the deal in the next few months and will bring in 15 of Imprint's 17 employees.
Imprint, founded in 2007, manages more than $550 million in assets. Eric Lane and Tim O'Neill, who head Goldman's investment-management division, wrote in a memo to employees that the acquisition "deepens our ability to help clients better align their portfolios with their broader values and objectives." According to the Global Sustainable Investment Alliance, $21.4 trillion was placed in sustainable investments at the beginning of the year, a 61-percent jump from 2012.
Read a Chronicle of Philanthropy opinion column on foundations adopting impact investing.