Community Capital Management Invests $25 Million in Innovative Impact Investing Asset-Backed Securities
Community Capital Management, Inc. (CCM), a leading fixed income impact investing manager, today announced new innovative financing activities on behalf of its clients within the asset-backed security (ABS) sector. These types of investments demonstrate the transformation occurring in impact investing, specifically within fixed income, for various types of bonds to have a positive social and/or environmental impact.
“ABS, while common on Wall Street, has been sparsely available to the market-rate impact investing community,” said David Sand, chief investment strategist and impact officer at CCM. “Since we began managing impact investments in 1999 and up until a few years ago, I could only point to a handful of ABS deals with positive impact outcomes; however, over the past couple of years, we have seen a substantial increase in deal flow for ABS with a focus on sustainability and community development. We anticipate and look forward to even more activity in impact-oriented structured finance.”