Treasurer Timothy A. Reese has announced the launch of a $100 million impact investment initiative that he said will result in the “double-bottom line” benefit of providing a competitive rate of return while supporting state investments in affordable housing, small business, health and educational facilities, and infrastructure projects.
Reese said in a press release that the money would be placed in securitized, fixed-income investments in Pennsylvania projects through a partnership with RBC Global Asset Management’s Access Capital Community Investment Strategy. Reese said the investment plan is aimed at leveraging the state’s financial assets and the department’s expertise to promote economic growth.
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