Tribe Impact Capital has acquired Snowball Impact Investments in a move that expands the firm’s capabilities with specialist private market investment offerings.
Responding to the opportunity for market consolidation, Tribe said the acquisition of Snowball forms part of its “continued commitment” to reshaping the future of investing. The addition of the Snowball fund brings additional scale and diversification to Tribe’s impact proposition, the firm added.
The transaction involves 100% ownership of Snowball by Tribe, with existing members from both Tribe and Snowball remaining invested.
Tribe founder and chair, David Scott, commented: “This acquisition represents a pivotal moment in our journey. By bringing a respected name like Snowball into Tribe, we expand our reach in private markets and reinforce our commitment to move money in support of the UN Sustainable Development Goals. We continue to grow through extraordinary market conditions and we’re proud to be setting a new benchmark for what impact-led wealth management can achieve.”
Snowball was founded by the Golden Bottle Trust and Panahpur, together with other mission-led asset owners including Skagen Conscience Capital and Friends Provident Foundation.
The fund invests across six themes that contribute to positive social and environmental impact: Energy transition, resource efficiency, regenerative ecosystems, homes and communities, equity and inclusion, and health and wellbeing. Each potential investment is assessed using a framework based on the Impact Management Project’s ‘Five Dimensions of Impact’, a widely used approach for gauging the impact of investments on people and the planet.
Commenting on the acquisition, Golden Bottle Trust’s Alexander Hoare added: “Snowball’s goal was always to make positive impact part of the future of all investing. By bringing together complementary strengths, we are creating a much broader and stronger offering to help clients who would like simpler and robust access to investments that integrate impact, risk and return.
“I am delighted that Golden Bottle Trust is reinvesting to become a major shareholder in Tribe, joining other investors who have recognised it is possible to target both financial performance and measurable progress for society.”
The acquisition is subject to approval from the Financial Conduct Authority.
