The New Private Markets Podcast

Bonus! In this short bonus episode of The New Private Markets Podcast, we bring you a conversation with Nadia Nikolova, the chief executive officer of ResponsAbility Investments.

Nikolova was formerly head of direct lending at Allianz Global Investors and, in September last year, became CEO of ResponsAbility, which is the emerging markets impact-focused subsidiary of M&G Investments.

This is another conversation from the sideli...

Since its launch in 2023 Altérra has established itself as one of the world's most influential investors in sustainable private markets. It has established fund relationships with Brookfield, BlackRock, TPG, KKR and CIP, and a direct co-investment programme that spans infrastructure and private equity. It has partnered with Spanish bank BBVA and is on the lookout for additional, complementary LP partners to join its co-investment p...

With all the discussion about promising VC-backed climate technology facing a "valley of death", what is actually needed to take these companies to scale? Building plants requires a lot of equity, a bit of senior debt, "but ultimately you need many more layers of the cap table", says Temple Fennell, co-founder and managing partner of Clean Energy Ventures. "You need insurance, you need wrappers of all types, you need EPC folks."

Fe...

When it comes to decarbonisation, investors have been spreading their capital too thinly across companies and technologies, says Stan Miranda, founder of the True North Institute and co-founder of All Aboard.

"We will not make the right investments if we don't face the reality of what's happening at the atmospheric level," says Miranda, "And for some reason or other investors in this space tend to back hope more than reality; and, ...

The European Investment Fund is one of the most important allocators to the continent's climate funds. More than half of the €6.3 billion it invested in sustainability and green transformation last year was deployed into private markets, according to its 2025 annual report. It was the second-most frequent allocator to impact funds in 2025 and Q1 2026, New Private Markets analysis shows.

In this episode, Matteo Squilloni, head ...

In February, Ontario Teachers’ Pension Plan, a Canadian pension plan with C$270 billion ($197 billion; €167 billion) in assets, unveiled a revised climate strategy, with new targets and new ways to measure progress.

In this episode, Anna Murray, senior managing director and global head of sustainable investing, takes us behind the changes, explaining why the pension has moved away from emissions intensity as a primary way of ...

APG Asset Management is one of the world's most influential investors in private markets, and a leader in the integration of sustainability and impact into its investment approach. It manages around €590 billion on behalf of Dutch public pension funds and has an ambitious €30 billion target for impact investments.

In this discussion with Patrick Kanters, APG's chief investment officer, private markets, we  dig into a number of...

For years, ESG was viewed more as an exercise in disclosure than a means to value creation. But sustainability is increasingly going beyond ticking boxes. It is becoming an increasingly important method for unlocking value in private equity portfolios.

Ahead of the Responsible Investment Forum: New York on 18-19 March, The New Private Markets Podcast discussed sustainability and value creation in private markets, among other topics...

Impact investing reached an inflection point in 2025 as uncertainty gripped private markets, abetted by political turbulence, fundraising difficulties and liquidity constraints.

But such uncertainty may have been necessary for impact fund managers to focus on a sharper articulation of market fundamentals, according to Rekha Unnithan, global head of private equity impact investing at Nuveen, the asset management subsidiary of retire...

How does a distribution drought affect LPs and how should they react?

In this episode, we speak to Tom Mitchell, partner in the foundation and endowments practice and head of sustainable and impact solutions at Cambridge Associates.

Cambridge Associates has been advising institutions on their investments since 1973. Mitchell has been with the firm since 2007 and helped launch its sustainable and impact investing platform.

This conv...

Regenerative economic models create value and expand markets, rather than undermine them, says Kat Taylor.

Taylor is an investor and philanthropist, and alongside her husband Tom Steyer founded TomKat Foundation. She is also the co-founder of the Beneficial State Bank and co-founder of the TomKat Ranch Educational Foundation.

Taylor was also one of the speakers at the New Private Markets Investor Summit in New York in November. Tha...

Having shot to prominence in the early part of this decade, have sustainability-linked loans (or SLLs) become an enduring part of the private credit landscape? Or have they quietly gone out of fashion?

In this special edition of the podcast, co-hosted with PEI Group affiliate publication Private Debt Investor, we seek to chart the rise of sustainability-linked loans and assess how they are being used today.

To recap: these loans fe...

Two major talking points at this year's New Private Markets Investor Summit: North America were the transformative force of AI and the pressing need for liquidity in private markets portfolios.

While neither of these topics are unique to impact or sustainable investing, they are of paramount importance and dominated discussions on stage and off.

In this episode, Jennifer Kenning, founder and CEO of Align Impact who served as e...

When Kenza Himmi, the head of impact investing and partnerships at the United Nations Joint Staff Pension Fund, attends a pitch meeting with a fund manager, she keeps an ear out for a few non-negotiable items.

She wants to know the fund's intent and whether it is designed to direct capital to environmental and social solutions. She wants to know how the fund measures the impact of its investments. And, of course, she wants to know ...

Is the field of impact investing growing in a healthy way, or is it being co-opted by firms for whom positive impact is secondary to asset gathering?

In this episode of The New Private Markets Podcast, we explore this fundamental question with Jed Emerson, a true veteran of the impact field, an author of multiple books and papers on the topic, and until April of this year, the chief impact officer for US wealth management firm AlTi...

Financial performance is the key issue that will determine the viability of impact investing at scale in the long term. Given the relative youth of most impact funds, it is a topic still open to debate.

Asset manager Schroders has been examining the performance of its impact investments. The UK-headquartered firm released a study in collaboration with Oxford University’s Business School earlier this year which examined impact...

When it comes to impact, private credit is often considered to be lagging behind other private markets asset classes. There are, however, signs that this is changing. Debt funds to hold a final close raised a combined $5 billion in 2024, the second-highest total of any asset class behind private equity.

Dutch institution APG Asset Management is one major LP to turn its attention to impact debt. The €616 billion fund recently moved ...

Learn more about the Impact Investor Global Summit in London here

Don't be put off by political noise. Reduced competition and growing demand for energy has made investment in US renewable energy generation easier and more attractive, says Natalie Adomait, managing partner and chief operating officer in Brookfield's renewable power and transition group.

Adomait is one of the speakers at the Impact Investor Global Summit on May 20th...

How do you create an impact strategy that passes muster with LPs? The question is on the agenda for both our upcoming Impact Investor Global Summit in London in May and for this special event preview episode of The New Private Markets Podcast.

Ben Constable Maxwell is head of impact strategy at UK-based global investor M&G Investments. The organisation sits on both sides of the LP-GP relationship, managing its own impact strate...