Nick Stoop, ex BlackRock Vice President, has launched the first truly aligned impact wealth management business, Pangea Impact Investments Ltd. Pangea builds model portfolios across positively impactful funds actively looking to improve society and the environment.
Impact investment is an evolution of ESG investing for investors wanting to make a real difference. Rather than limiting investment to firms with high ESG metrics, impact investors target companies actively trying to improve the environment and society. ESG has been the investment flavour of the last few years. However, it has recently faced controversy from the over-marketing of its impact, even from proponents of it, with the likes of HSBC’s Head of ESG questioning its effectiveness. Nick’s old firm BlackRock has also come under scrutiny recently while trying to position itself as a leader in ESG.
Nick has been impact investing for almost a decade, having started in 2013 by investing his savings and pension in listed companies that put people and the planet in line with profits.
Pangea is committed to making an impact for its clients beyond their underlying investments. Pangea is a member of the 1% for the Planet initiative, has partnered with Earthly to help offset its carbons emissions, and is a certified Pending B Corporation. The company has partnered with a collective of organisations and campaigns that push businesses to lead by example and improve the environment, including; Business Declares and the Better Business Act. Pangea will also support the Devon Environment Foundation, Surfers Against Sewage, and Escape2Make.
P1 Investment Management, operators of the P1 Platform and experts in ethical investment, will provide a regulatory home for Pangea to conduct business whilst also providing the platform infrastructure for Pangea to manage its clients.
Nick Stoop, Founder and CEO of Pangea Impact Investments, said: “Three years ago I was looking for a truly aligned positively impactful solution for my two UK workplace pension portfolios. The solution I sought was not available and so I decided to try and build it. A timely conversation with P1 Investment Management provided just the catalyst I required to bring Pangea to life. It continues to be a great priviledge working with the team at P1 Investment Management as I bring Pangea’s solution to the UK marketplace.”
James Priday, CEO of P1 Investment Management, said: “Nick has a clear vision which aligns perfectly with our in-house ethical and sustainable investment expertise. I am thrilled that we can support Nick in launching Pangea by providing both a regulatory home and the investment technology to operate his services.”