Urban Investment Group at Goldman Sachs head, Alicia Glen, speaks about the firm’s commitment to “social impact investing”.
Recently, the firm invested social impact bonds up to $10 million to fund a program in NYC. The initiative is the firm’s partnership with the City of New York, Bloomberg Philanthropies and social-service provider MDRC. It will subsidize a program called Adolescent Behavioral Learning Experience (ABLE), which is intended to lowering the rates of recidivism among juvenile delinquents at the Rikers Island correctional facility.
Goldman Sachs is an American investment banking firm that engages in global investment banking, securities, and investment.