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Opportunities in Patient Capital Financing

In: Innovations in Social Finance

Author

Listed:
  • Julie Segal

    (The J.W. McConnell Family Foundation)

  • Erica Barbosa Vargas

    (SecondMuse Capital)

Abstract

This chapter introduces the concept and applications of patient investment capital. It proposes patient capital as an instrument that, while in most cases requires investor flexibility, is not restricted to particular return preferences or asset types. Patient capital is defined as contingent on investor orientation rather than the length of investment term. In this chapter, we review the applicability of patient capital across investment types; however, we focus on its use in advancing social and sustainable outcomes in private market transactions. We outline the history of patient capital across institutional investors’ portfolios and draw upon case studies to provide evidence for the following two points: first, that patient capital has been structured to appease various levels of risk tolerance and can be used to meet distinct portfolio needs, and second, that patient capital is a necessary form of investment for creating, supporting, and aligning with social value and the impact economy.

Suggested Citation

  • Julie Segal & Erica Barbosa Vargas, 2021. "Opportunities in Patient Capital Financing," Springer Books, in: Thomas Walker & Jane McGaughey & Sherif Goubran & Nadra Wagdy (ed.), Innovations in Social Finance, edition 1, pages 193-210, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-72535-8_9
    DOI: 10.1007/978-3-030-72535-8_9
    as

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