NYPRI seeks opportunities to help organizations increase their impact, while offering the potential for some amount of financial return to investors. Opportunities that are not sensibly funded with grants or conventional, market-rate loans and generally fall into three areas: real estate, working capital, and expansion capital. NYPRI targets investments from $250,000 to $750,000 (investments outside this range will be considered on an exceptional basis and/or alongside co-investors) in the form of secured and unsecured loans, loan guarantees, equity, and equity-like securities. The economic terms are determined case-by-case to achieve the programmatic objectives of NYPRI’s participants while remaining below market. NYPRI seeks to co-invest alongside other entities, which may include the Contact Fund.
The New York Pooled PRI Fund was established in 2014 by Altman Foundation, The Heckscher Foundation for Children, The Thompson Family Foundation, one other private family foundation and SeaChange to collectively source, evaluate, make and manage program-related investments.