An RBC Global Asset Management partnership with Minnesota Council on Foundations
Providing a coordinated approach for investors to make market-rate investments to impact Minnesota with a focus on underserved communities and families.
Founding Sponsor
The Purpose of MI3
MI3 is a collaboration of investors led by the Minnesota Council on Foundations, created with strategic support from Cogent Consulting. MI3 is dedicated to building support for impact investment strategy targeting communities in need in Minnesota.
MI3 participants include large and small foundations, local government agencies and individuals. Participants set out to catalyze the growth of impact investing in Minnesota through a coordinated investment to build capacity and scale. These projects support home ownership, job creation, small business growth, and increased access to rental housing, healthcare, and education in Minnesota.
Investing for Impact at RBC Global Asset Management
Through the partnership with RBC Global Asset Management (RBC GAM), participants in MI3 can invest in high quality, liquid fixed income strategies intended to create positive social and environmental impacts while also seeking a competitive financial return. RBC GAM believes that we can help build stronger communities and build portfolios of high quality securities that meet investors' needs while increasing the flow of capital to designated communities.*
*Participants' ability to designate geographies and/or themes is dependent on the amount of their investment and the vehicle through which they invest.
Custom mandates also available. Please contact us to learn more.
Disciplined investing with a Community Development Purpose through the Access Capital Community Investing strategy
- High quality, liquid fixed income investment strategy that primarily holds investments guaranteed by the US government, its agencies or municipalities
- 25+ year track record delivering social impact and institutional caliber investments
- Advances social justice in market-rate investments through the creation of customized securities that support underserved people in the US
- Builds stronger communities by financing affordable housing, job creation, healthcare, education and infrastructure projects that foster sustainable economic development
Impact summary
Multi-family affordable rental housing
Neighborhood demographics*
100% |
of units at or below 80% Area Median Income |
50% |
of properties are located in BIPOC neighborhoods |
76% |
are women-headed households |
15.5% |
average annual income of residents |
*Figure represents the weighted average of all neighborhood residents across census tracts in which the properties are located.
Note: Subsidized housing resident data is only available for assisted housing subsidies under the following HUD programs: public housing, tenant-based, and privately owned, project-based; Data is provided by the U.S. Department of Housing and Urban Development
- 538 Units financed
- Investors include 8 foundations and 2 counties
*BIPOC is an acronym that stands for Black, Indigenous and People of Color. A loan is categorized as supporting a BIPOC neighborhood if >50% of the residents are BIPOC. Summary represents a shareholders’ specific allocation within DTR (Designated Target Region). Tenant profile data is presented for borrowers where data is reported. Where data is unavailable, the tenant is excluded from the calculation. Data available on 5 properties.
Source: RBC GAM, as of 6.30.25
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Real world impact
Access Capital has contributed to impact investments in 50 states and the District of Columbia. Highlights include:
■ 22,291 low-to moderate-income home buyers ■ 109,638 affordable rental units ■ 6,071 nursing home facility beds ■ 27 rural properties ■ 101 rural enterprises ■ 1,546 small business loans ■ 149 community economic development projects ■ 17 community‑based not‑for‑profit organizations
Impact investments listed above include investments in all vehicle options for the BlueBay Access Capital Community Investing Strategy.