SELECTED

Projects

OBJECTIVES

The Ford Foundation (Ford) engaged Tideline over the course of two phases of work to assist in developing a sector-based framework and strategy in which Ford could use program-related investments (PRIs) to: advance impact investing as a practice, be a catalytic source of capital to leverage other investors, and achieve demonstrated progress on social justice. In the first phase, Tideline screened a broad range of industry sectors and created a bespoke framework to prioritize those sectors best aligned with Ford’s mission and objectives. Tideline was subsequently brought back for a second phase of work to conduct a deeper level of analysis and strategy development for a set of shortlisted sectors, providing further guidance on Ford’s role, activities, and key considerations for implementation.

SCOPE

In the first phase of the effort, Tideline worked with the Ford team to identify the overarching goals of Ford’s impact investing efforts, and then designed a research methodology and framework tailored to address those priorities. Starting from over 40 industry sectors for analysis between developing and developed countries, Tideline conducted extensive interviews and desk research to examine the sectors for their potential to address social justice issues, sector investability, and a prospective role for Ford. The list of sectors was narrowed through successive phases of research and corresponding discussions with the Ford team, ultimately resulting in the identification of six priority sectors.

After a period of internal strategic discussions within Ford, Tideline executed a second phase of work, focusing on the priority sectors to more precisely define the nature of the opportunity for Ford, the types of activities and investments required, and the key strategic and operational considerations for moving to action.

OUTCOMES

A broad scope of research was conducted, with a total of approximately 80 expert interviews and 700 sources reviewed from the literature. In both phases of work, the research and analysis was presented to the impact investing team periodically throughout the project, then culminated in a presentation with Ford leadership to share and discuss the final recommendations. Tideline’s work has provided the basis for Ford to move towards implementation of the new impact investment strategy for PRIs.

OBJECTIVES

ICC was at an inflection point after 15 years pioneering the development of an institutional-quality platform of affordable housing secondary market investments primarily for its eight insurance company owners. Impact was ready to offer its investment advisory and asset management expertise to other institutional investors and engaged Tideline to design a product-driven growth strategy. ICC’s owners include: 21st Century, Allstate, Farmers, Liberty Mutual, Nationwide, Pacific Life, State Farm, and TIAA-CREF.

SCOPE

The multifaceted project was conducted over two phases in Fall 2014 and Spring 2015. Tideline’s engagement included assessment of the strengths and capabilities of ICC’s business platform, extensive market research including outreach to ICC’s peers and prospective new investors, financial modeling, strategic planning, governance enhancements, capacity building, and change management. Tideline worked in close collaboration with management on creating an ambitious but executable business expansion strategy. The governance work, conducted in partnership with the owners, was designed to support ICC’s growth and the targeting of new institutional investors.

OUTCOMES

ICC’s management and owners unanimously embraced the ambitious but focused, closely vetted vision for growth presented by Tideline. The company is implementing an enhanced governance structure and building the internal capacity to support execution of its asset management growth strategy.

OBJECTIVES

Through a series of high-level discussions, the leadership team at The Rockefeller Foundation (Rockefeller) perceived an opportunity for strategic alignment with a development finance institution (DFI) in order to address gaps in investees’ access to specific types of capital, thereby facilitating greater benefits for poor and vulnerable people. Rockefeller engaged Christina Leijonhufvud to assess the feasibility, benefits, and risks of moving these discussions from concept to implementation and to recommend a path forward.

SCOPE

The assignment involved a combination of due diligence, operational and strategic analysis, and investment partnership design. The project began with significant due diligence of both organizations’ impact investment capabilities. As a result, key areas of potential synergy were identified between the DFI’s sourcing, due diligence, and financing capabilities on the one hand, and Rockefeller’s social impact credentials and flexible program-related investments (PRI) on the other. We concluded that when applied in concert, these capabilities could meet investee capital needs that each funder, on its own, would be unable to provide. Christina worked in close collaboration with Rockefeller’s leadership and PRI team to frame the operational implications and strategic decisions involved.

OUTCOMES

With Christina’s support, Rockefeller and the DFI management teams ultimately embraced a memorandum of understanding in order to pilot a program of joint impact investments. The program is currently being implemented and, based on its results, will help inform the broader impact investment market regarding the benefits and challenges of multi-stakeholder alliances among different types of capital providers as a means to drive capital towards sectors and transactions that benefit poor and vulnerable people.

OBJECTIVES

A low-profile but highly successful leader in Silicon Valley wanted to invest in the Global South, where he and his wife believed their money would have more impact. Based on their research they chose to fund girls’ education due to a ripple effect of improvements in economic opportunity for families, health outcomes for women and children, engagement in citizenship, and even potentially economic productivity for entire countries. They did not want to leave behind a lasting institution, just lasting change, and are committed to giving their wealth away in their lifetimes.

SCOPE

The assignment includes all elements of strategic and resource planning, governance, and day-to day outsourced management on an ongoing basis. Tideline’s work also included the establishment of an expert Advisory Board and the hiring and supervising of dedicated staff with expertise on education in the developing world.

OUTCOMES

Tideline helped flesh out a portfolio approach to their investing in the field of girls’ education, which includes elements of core long-term support, quick response funding, and investments in experimental, high-impact innovations. Tideline also assisted in the development of investing principles and methods for minimizing costs. Today the client is the largest private, US-based funder of girls’ education to the Global South.

OBJECTIVES

Following a seed grant from the Robert Wood Johnson Foundation in 2014, the Build Healthy Places Network (“the Network”) had positioned itself as a critical knowledge resource and leader in the emergent field connecting health and community development. However, the Network recognized that maintaining a leadership role within an evolving market would require a strategic growth plan. In August of 2015, the Network engaged Tideline to identify and prioritize opportunities that could expand and enhance its work in the field.

SCOPE

Tideline worked with the Network to develop a multi-year business plan. Employing a phased research approach, Tideline worked with both leadership and the broader team to analyze the organization’s core competencies, funding needs, resourcing allocations, and long-term goals.

Tideline then conducted extensive market outreach to experts and practitioners from the fields of healthcare, community development, public health, philanthropy, and public policy, in order to identify key market needs around connecting community builders and health systems. Tideline matched these market needs to the Network’s core strengths to develop the recommended strategic directions, which were further developed in collaboration with the Network’s team. Market testing through further outreach confirmed the potential of the proposed directions.

OUTCOMES

Based on this phased approach, Tideline created a strategy blueprint that narrowed in on three priority areas for the Network. The final multi-year action plan included a vision for the Network’s role within the field, a detailed business expansion strategy, financial analysis, and recommendations on a number of implications for operations, funding, and marketing. With the support of Tideline’s analysis, the Network is moving towards implementation.