Impact 50 List: Top Impact Investing Firms in Private Markets

The **Impact 50** list, compiled by **New Private Markets**, ranks the largest managers of private markets impact capital in the world. As of 2025, **Brookfield** is the largest manager, having raised **$30.6 billion** over the past five years. The list also includes **TPG**, **EQT**, **Meridiam**, **Goldman Sachs Asset Management (GSAM)**, **BlackRock**, **Actis**, **Enterprise Community Partners**, and **Eiffel Investment Group**. These firms have raised a combined total of over **$100 billion** in impact capital. The Impact 50 list highlights the growing importance of **impact investing** in private markets, with a focus on **sustainable development**, **climate change**, and **social responsibility**. For more information on impact investing, see [[impact-investing|Impact Investing]]. The list also underscores the role of **private equity** and **infrastructure investing** in driving positive change. See [[private-equity|Private Equity]] and [[infrastructure-investing|Infrastructure Investing]] for more details.

• The Impact 50 list highlights the growing importance of impact investing in private markets
• The list includes 10 firms, with a combined total of over $100 billion raised in impact capital
• Brookfield is the largest manager of private markets impact capital in the world, with $30.6 billion raised over the past five years
• The sector is expected to continue growing, with a focus on sustainable development and climate change
• There is a need for greater transparency and accountability in the sector, and for clear standards and metrics for impact investing

The Impact 50 list provides a snapshot of the largest managers of private markets impact capital in the world. While the list highlights the growth of impact investing, it also raises questions about the **definition of impact** and how it is measured. As the sector continues to evolve, it will be important to establish clear standards and metrics for impact investing to ensure that investments are truly driving positive change. For example, **EQT**'s impact fund, **EQT Future Fund**, has a clear focus on **climate and nature**, and **health and wellbeing**, demonstrating the importance of clear goals and metrics in impact investing. See [[impact-measurement|Impact Measurement]] for more details.

The Impact 50 list is a testament to the growing momentum of **impact investing** in private markets. With **$100 billion** raised in impact capital, these firms are driving positive change and demonstrating that **sustainable development** and **financial returns** are not mutually exclusive. As the impact investing sector continues to grow, we can expect to see even more innovative solutions to pressing global challenges. For example, **TPG**'s impact platform, **TPG Rise**, has raised **$20.9 billion** in the past five years, demonstrating the potential for impact investing to drive significant positive change. See [[sustainable-development|Sustainable Development]] for more information.

The Impact 50 list may be seen as a marketing exercise, with firms competing to be seen as leaders in **impact investing**. However, the reality is that many of these firms have a long way to go in terms of truly integrating **ESG** principles into their investment strategies. Furthermore, the list may be seen as perpetuating a **greenwashing** narrative, where firms prioritize marketing over actual impact. For example, **Goldman Sachs Asset Management (GSAM)** has faced criticism for its role in **fossil fuel financing**, highlighting the need for greater transparency and accountability in impact investing. See [[greenwashing|Greenwashing]] for more information.

Originally reported by New Private Markets