Private Market Impact Investing Firms: Ownership Structure and Investment Style

This paper analyses over 8000 private market investment firms to differentiate between impact, ESG, and conventional investing. It reveals that impact investors are more frequently government-owned and tend to focus on sectors like agriculture, cleantech, and education, while avoiding "sin" industries. The study clarifies the distinctions in firm characteristics, investment preferences, and ownership structures among these ethical investment types, contributing to a better understanding of the evolving sustainable finance landscape.