Read our Why Good Capital Series conversation with impact leader Jolyne Caruso about why the Good Capital Project is needed in this moment as well as the invaluable insights each subject has into our industry. Jolyne Caruso is the founder and CEO of The Alberleen Group. She has over 30 years of finance experience in both global capital markets and asset management businesses and previously worked as global head of absolute return strategies at Lehman Brothers. Here is an excerpt of our conversation:
Why is now such a critical time to start this project?
Jolyne Caruso: There are two things that are really driving impact at this moment. When I see families starting to talk about how they’re shifting their philanthropy and how they’re actually using their foundation money to do impact deals, I know we’re on the cusp of a trillion dollar opportunity to expand impact. When I read the Ford Foundation announcement that they’re putting one billion dollars of their endowment into impact I said, “We have hit a critical turning point.”
We are seeing the younger generation of families embracing purpose and impact in everything they do. We have all read about the wealth transition that’s going to occur over the next 20 years and this millennial generation and beyond are going to do impact in ways that we cannot imagine.