影响力投资正蓬勃发展，逐步成为投资领域的新趋势。 "影响力投资（Impact Investing）" 于2007年由美国洛克菲勒基金会提出，是ESG投资中最为积极 主动的投资策略，旨在追求财务回报的同时，主动创造可衡量的社会价值与环境效益。 在全球发展进程中，人与自然关系的失衡衍生出一系列棘手问题，贫富差距持续拉大、粮食安全隐患 丛生、气候风险日益严峻以及环境污染问题愈发突出，可持续发展面临严峻挑战。在 "义利共生" 投 资理念的驱动下，诸多投资机构将战略目光聚焦在 "影响力投资" 赛道，在财务收益与社会价值之间 寻求动态平衡，通过资本配置的结构性调整助力破解可持续发展困境。 影响力投资作为资本向善的范式革新，正在重塑全球投资版图的价值坐标。这种超越传统财务维度的 投资策略，在追求经济收益的同时，将社会和环境价值纳入投资决策的核心框架，形成财务回报与社 会影响相互赋能的良性循环。影响力投资不仅体现卓越的投资策略，更为投资机构与被投企业创造长 期价值。影响力投资是助力全球公平、包容与可持续发展的重要变革力量。 随着国内资本市场不断深化升级，可持续投资理念日益深入人心，影响力投资正吸引着越来越多的机 构和组织投身 ...

Core Insights - The discussion emphasizes the evolving nature of wealth transfer and impact investing in China, particularly in the context of an aging population and changing commercial values [4][5]. Group 1: Impact Investing Landscape - The impact investing sector in China is facing challenges due to geopolitical issues, leading to a slowdown in fundraising and post-investment management [7]. - There is a lack of understanding and awareness regarding social responsibility investments in China, which hinders the growth of this sector [9]. - The global impact investing market is substantial, with a reported size of $1.57 trillion, but China's share remains minimal, indicating a significant gap in market maturity [18][19]. Group 2: Wealth Management and Family Offices - Family offices play a crucial role in wealth management, focusing on risk mitigation, wealth creation, preservation, and intergenerational transfer [11][12]. - The success rate of wealth transfer across generations is low, with only 4% of wealth successfully transferred to the fourth generation, highlighting the importance of effective strategies [12]. - Family offices are encouraged to adopt impact investing as a means to align their financial goals with social and environmental outcomes [34][35]. Group 3: ESG Integration - The integration of ESG (Environmental, Social, and Governance) principles is becoming increasingly important in investment strategies, driven by regulatory frameworks and market demand [37][38]. - Many private equity firms are adopting ESG criteria in their investment processes, influenced by the need for high-quality growth and market recognition [38][39]. - The establishment of ESG initiatives and guidelines by various regulatory bodies is fostering a more robust investment ecosystem in China [37][38]. Group 4: Measurement and Evaluation - The development of impact measurement tools is essential for assessing the effectiveness of impact investments, with various dimensions and metrics being utilized [25]. - There is a need for standardized evaluation criteria to enhance transparency and accountability in social responsibility investments [29][30]. - The complexity of measuring impact requires collaboration among stakeholders to ensure that investments yield beneficial outcomes for society [44].

Group 1 - The global sustainable development faces severe challenges as it approaches 2025, with progress towards the 2030 development goals lagging behind expectations [1] - The new U.S. government has announced its withdrawal from the Paris Agreement and frozen international development aid, raising concerns about the impact on global cooperation [1] - In Europe, there are considerations to simplify information disclosure requirements, leading to worries about potential legislative regression in sustainability efforts [1] Group 2 - The 2025 China Social Responsibility Investment Summit will be held on May 15 in Shanghai, focusing on discussions around sustainable development challenges and future pathways [2] - The summit will feature sub-forums on topics such as impact investing, social value of leading enterprises in the supply chain, and sustainable rural development [2] - The event is organized by several institutions, including the China Inclusive Finance Research Institute and Shanghai Jiao Tong University [3]

Group 1 - The Walton family is one of the wealthiest families in the U.S., with Lukas Walton, grandson of Walmart founder Sam Walton, recently appointing Noelle Laing as the sole Chief Investment Officer of his family office, Builders Vision (BV) [1][2] - Lukas Walton has a net worth of $40.2 billion as of May 2025, ranking 36th in the world according to Forbes [1] - Builders Vision, founded by Lukas in 2021, focuses on sustainable philanthropy and impact investing, having donated over $3 billion since its inception [1][8] Group 2 - Noelle Laing, with over 20 years of investment experience, will integrate BV's three main investment strategies: direct investment, asset management, and philanthropy [2][3] - Laing previously served as CIO of Builders Initiative and has collaborated with Lukas for over 12 years [2][3] - BV aims to address significant environmental and sustainability challenges in the oceans, food and agriculture, and energy sectors [8][10] Group 3 - Builders Asset Management, one of BV's teams, has invested billions in public and private markets, focusing on achieving excellent returns while driving systemic change [10][11] - Builders Initiative manages a $1.7 billion donor-advised fund, with 90% of its portfolio aligned with sustainable investments [10][11] - BV has catalyzed over $2.2 billion in investment capital for ocean-related initiatives from 2018 to 2023 [12] Group 4 - Lukas Walton's personal experiences, including a transformative encounter with a trapped whale, have shaped his commitment to ocean conservation and sustainable resource management [13][15] - BV has recently invested in Bluefront Equity, a sustainable seafood fund in Norway [16] - Lukas Walton is also the chairman of the environmental project committee for the Walton Family Foundation [19] Group 5 - The Walton family employs a trust structure to minimize estate taxes, with Lukas inheriting a significant portion of his father's wealth, including a 4% stake in Walmart [22][25] - The estate's valuation was estimated at $6.6 billion, with strategic planning to reduce tax liabilities [26][29] - Lukas's inheritance includes voting rights in Walton Enterprises, which controls 50.2% of Walmart [22][25]

"过去几十年，很多人把时代的赠予认为是自己的能力，未来要考验硬功夫。" 文丨高洪浩 编辑丨宋玮 钱杨 "回想这项投资，我有诸多感慨和遗憾。" "我就犯过这样的错误。" …… 从事 PE（私募股权）投资 30 年，孙强不避讳谈论自己的失败，这在一个赤裸裸以挣了多少钱论成败的行 业不多见。 进入中国以来，华平一直是这里最活跃的外资 PE 之一——对多个行业的超过 170 家企业累计投资超过 160 亿美元。相比之下，KKR 在中国投资企业数量只有 40 余家，累计投资额在 70 亿美元左右；凯雷的累 计投资额则在 100 亿美元上下。 1992 年底，在高盛任职的孙强从纽约搬往中国香港。当时，中国内地的金融改革正如火如荼，国有企业股 份制改造推动了一批即将赴港上市的企业，外资投行们无不虎视眈眈地盯着这块蛋糕。 10 多年前，孙强开始动笔把自己的职业生涯和投资经历记录下来，最近以《一个投资家的成败自述》为题 出版。他不愿意强调个人，不想把自己的名字写进标题，而是以自我检视的口吻回顾他主导和参与过的 PE 投资项目，剖析从失败中得到的经验和教训。 "张磊、沈南鹏等同行的故事比我有意思一百倍，我没他们那么成功，所以敢写 ...