Impact Allocator Perspectives: Opportunities And Risks In Evolving Private Markets

We are grateful for the opportunity to collaborate with ICM on this inaugural LP Survey and value the insights gained from the survey's participants.

This survey offers fund managers a timely and actionable window into the evolving landscape of impact investing. By capturing the perspectives of leading allocators across a diverse array of institutions, this survey distills critical insights on asset class preferences, emerging impact themes, and the key risks and barriers shaping capital deployment in the current market. The findings illuminate not only where capital has been flowing—such as the continued dominance of impact funds flowing to private equity and venture capital, and the rising interest in real assets and private credit—but also the nuanced concerns around liquidity, regulatory uncertainty, and the increasing need for robust impact measurement and management tools. For fund managers, these insights provide a strategic roadmap to assist in