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Rock Creek Group

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

RockCreek is a leading global investment management and advisory firm that applies data-driven technology and innovation to sustainable investing. Launched in 2002 by Afsaneh Beschloss and a team from the World Bank, RockCreek manages multi-asset class portfolios focusing on integrating sustainable investments globally across public and private markets through customized portfolios. The leadership of RockCreek have worked together for over 20 years at the World Bank and RockCreek and have a long-term track record of performance through sustainable investments. RockCreek's client base consists of sophisticated institutional investors, including endowments, foundations, pension plans, and sovereign funds. The firm is highly focused on the integration of environmental, social, and governance (ESG) factors and mission related, impact investment themes across portfolios to generate long-term returns. Our team has the experience and track record to demonstrate that Institutions can generate both long term return and impact with appropriate risk considerations that align with the mission, culture, and values of an organization.

RockCreek is 100% employee-owned, one of the largest woman-founded firms with an over 80% diverse ownership and management team. The firm is headquartered in Washington, D.C., with an office in New York City.

The history of the firm started with sourcing, researching and investing in fund, co-investment, and direct company opportunities globally including emerging markets, monitored and assessed across our proprietary investment database. This universe includes over 3,000 ESG and impact investment options broad based across sectors and themes including climate, clean energy, education, healthcare, affordable housing, community, diversity, equity and inclusion and other areas. RockCreek’s impact and ESG universe is extremely global in nature and a reflection of the team’s global investing experience from the World Bank and embedded in the firm’s investment strategy.

Today, RockCreek has invested over $4.2 billion in ESG and impact investments across sectors and themes including climate, energy, affordable housing, healthcare, community, diversity and inclusion, and education among others that are aligned with a client’s specific mission and objectives. Our endowment and foundation multi asset class portfolios have almost 20% invested in mission related investments across public and private markets. This translates to one of the largest allocations relative to peer Institutions. RockCreek regularly invests in ESG and impact strategies, companies and funds alongside other sustainable investing leaders such as the Emerson Collective, Rockefeller Foundation and Bill & Melinda Gates Foundation. Our team members are involved in a number of non-profits as board members and Investment Committee chairs engaged in ESG and sustainable impact investing such as the World Resources Institute, National Geographic, Council on Foreign Relations, American Red Cross, Robert F. Kennedy Human Rights, Ford Foundation and Rockefeller Brothers Foundation.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

70 FTE

02.4. Additional information. [Optional]

Members of the RockCreek team led global investments for the World Bank, including sustainable impact investments and have been advising and investing in ESG and impact mandates since the 1980s. They were responsible for managing portfolios totaling as much as $115 billion of traditional and alternative investments including private equity, venture, alternatives and emerging markets for a client base that included central banks, pension plans, endowments, foundations, and sovereign wealth funds. Team members also managed an over-the-counter derivatives book as large as $250 billion (notional). While at the World Bank, Ms. Beschloss led the World Bank's energy policy and investments and founded the Natural Gas Group to replace coal in many emerging countries to reduce carbon emissions and led the Energy Sector Management Group, focused on renewable energy and power. She also did some of the early studies on measurement of ESG factors such as shadow pricing. During this time, she worked on improving governance of companies in emerging markets and was an early adaptor of proxy voting principles following The Early Work by Bob Monks. She worked on China’s energy sector with CNOOC after China joined the Bank, advised the Indian Secretary Energy and Finance on energy pricing in India, initiated the Bank’s Advisory work with Gazprom after Russia joined the Bank, and led the Bank’s work on energy privatization in Eastern Europe to reduce reliance on coal. She has published and been a thought leader on ESG and impact and co-chaired the first World Economic Impact Summit. In January 2019, she spoke on a panel at the World Economic Forum in Davos with Christine Lagarde of the IMF and Rajiv Shah, President of the Rockefeller Foundation, on Impact and the SDGs. In October 2019, Ms. Beschloss, along with RockCreek Senior Advisor Laura Tyson, co-authored an article entitled “Quantitative Greening,” which explored the tools that central banks and financial regulators employed to assess and manage climate-related risks.  In December 2019, Ms. Beschloss co-authored an article with RockCreek Senior Advisor Mina Mashayekhi entitled “A Greener Future for Finance – The Success and Challenge of Green Bonds Offer Lessons for Sustainable Finance,” which discussed the possibilities for green bonds as a source of financing for climate related projects.  Another senior leader of the team, Kenneth Lay, led the team which created the first "green bond" while Treasurer of the World Bank. RockCreek team members are frequent speakers on ESG and impact opportunities, and they serve on the investment committees of major institutions pursuing pioneering ESG strategies RockCreek Senior Advisor Laura Tyson is a member of the Sustainability Accounting Standards Board (SASB) Board of Directors and has published extensively on sustainable investing.  Sherri Rossoff, a RockCreek Managing Director, served as Chair of the Council of Institutional Investors, Markets Advisory Council.  In 2019, Ms. Beschloss was part of the panel with the IMF that resulted in the launch of the Operating Principles for Impact Management, of which RockCreek is an inaugural signatory. 

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 0.9 10-50% 16.7
Fixed income 0 0 <10% 0.8
Private equity 0 0 10-50% 15.9
Property 0 0 <10% 3.7
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 >50% 58.2
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 <10% 3.8
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

80.21 Developed Markets
19.79 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

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