Welcoming Drake Hicks to Variant Investments
Variant Investments, LLC has made a significant announcement with the appointment of Drake Hicks as Vice President of Impact. This strategic move underscores the firm’s commitment to impact investing within the alternative credit space.
Drake Hicks' Role and Responsibilities
In her new role, Hicks is set to drive the firm’s impact investment strategies, enhancing engagement with stakeholders in the impact investing sector. She aims to broaden the reach of the Variant Impact Fund, which focuses on aligning investment opportunities with meaningful social and environmental objectives.
Drake Hicks' Impressive Background
Prior to her appointment at Variant, Hicks demonstrated her leadership skills as the Head of Strategic Partnerships for Manifest Climate, where she played a crucial role in deploying their innovative platform. Before that, she led ESG initiatives for Base 10 Partners, the largest venture capital firm led by Black investors. Hicks also held a prominent position at the JPB Foundation, carving out an impact investing mandate that directed substantial funds towards vital areas such as poverty and healthcare.
Early Career and Education
Hicks began her professional journey in structured finance at BlackRock, operating in major financial hubs. Her academic achievements include a bachelor's degree from Williams College and an MBA from INSEAD, equipping her with the skills to navigate complex investment landscapes.
The Vision Behind the Variant Impact Fund
The Variant Impact Fund (IMPCX) focuses on generating attractive current income while aligning investments with the United Nations Sustainable Development Goals. The firm manages approximately $3 billion in assets, targeting uncorrelated income sources within niche private markets, making a mark in sustainable development.
Performance Highlights
Since its inception, the Variant Impact Fund has seen impressive performance, achieving an annualized net return of 9.71%. It has consistently outperformed various benchmarks, including key bond indices and large-cap equity benchmarks.
Conclusion
Hicks' appointment is viewed as a substantial win for Variant Investments. Her expertise is expected to bolster the firm’s impact initiatives, ensuring that investment strategies not only yield financial returns but also contribute positively to society and the environment.
Frequently Asked Questions
Who is Drake Hicks?
Drake Hicks is the newly appointed Vice President of Impact at Variant Investments, where she focuses on impact investing.
What is the Variant Impact Fund?
The Variant Impact Fund aims to provide high current income while aligning with sustainable development goals.
What was Drake Hicks' previous role?
Prior to joining Variant, Hicks served as Head of Strategic Partnerships at Manifest Climate and was involved in ESG initiatives at Base 10 Partners.
How has the Variant Impact Fund performed?
Since its launch, the fund has achieved an annualized net return of 9.71%, outperforming various significant investment benchmarks.
What does the appointment of Drake Hicks mean for Variant Investments?
Her expertise is expected to enhance Variant's commitment to impact investing, broadening their influence and capabilities in this crucial sector.
