Impact InvestingOld Mutual Alternative Investments

Who we are

The Impact Investing team has over ZAR 9 B (USD 545 M) under management. The business invests in assets and regions where gaps or backlogs in social infrastructure have been identified, by creating commercially sustainable investments that provide large-scale positive impact - with a focus on Housing, Education, and Financial Inclusion opportunities. Being a pioneer in the industry, we maximise partnerships to invest at scale and aim to have a large-scale impact with positive developmental outcomes.

*As at 31 December 2025

Who we are

Our investment approach

Our high-performance investment professionals operate in focused teams, each with a deep sector focus and specialisation, and are passionate about delivering on their dual mandate of generating competitive risk-adjusted returns whilst making a positive social impact.

Our extensive experience in Impact Investing, since 2007, enables us to find and execute on the best available opportunities, and our ongoing active management style ensures that we extract the best outcomes for our investors.

We invest in both debt and equity and invest alongside specialist operators to extract the best commercial and impact outcomes from each investment opportunity.

We actively pursue making a meaningful contribution to four of the United Nations Sustainable Development Goals, being Quality Education, Decent Work & Economic Growth, Reduced Inequality and Sustainable Cities & Communities.

Our investment approach

Our impact

Education
  • ZAR 2.1 B invested
  • In 48 schools with 26 085 learners and 1 917 permanent staff
  • Projecting 40 100 learners and 1 900 permanent staff in the current portfolio of investments (at completed capacity)
  • Matric pass rate in 2023 of 94.6% versus National Average of 82.9%
  • University exemption in 2023 of 55.4% versus National Average of 40.9%
  • 9 000 matric passes and 5 000 university exemption passes since inception to date
  • 90% of portfolio schools operate in the affordable market segment
  • Three out of six current school operators are 100% Black Owned
  • R4 503 382 bursaries allocated via our Schools Grant Fund (2015 – 2023)
Education
Housing delivery
  • ZAR 3.7 B invested
  • In 24 housing development projects
  • 25 000 housing opportunities transferred to date
  • 40 000 transfers expected over the life of the projects
  • 83% in Affordable Market segment
Housing delivery
Retirement Accommodation
  • ZAR 1.2 B invested
  • In 10 retirement villages
  • 1 600 completed units, including frail care and assisted living units
  • 135 units under construction or in the committed pipeline
  • Enhanced access for the elderly market to security, healthcare, and other support services
Retirement Accommodation
Rental & Student Housing
  • ZAR 4.3 B invested
  • In 16 rental and student housing portfolios
  • 8 500 rental units to date
  • 10 200 student beds to date
  • 92% in Affordable Market segment
Rental & Student Housing
Financial Inclusion
  • ZAR 6.6 B invested
  • 8 300 mortgage bonds financed
  • 230 000 home improvement loans financed
  • 180 000 consumer loans financed
  • 11 200 taxis financed
  • 3 400 ATMs financed
  • 84% in Affordable Market segment
SMME & Consumer Finance
Our people

Our diverse skill set enables us to find and complete successful investments.

Our funds

Our funds provide investors with an opportunity to earn competitive, risk adjusted returns, while making a contribution to a positive social impact.