Daniela Barone Soares V2_1.mp4

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Daniela Barone Soares V2 (1).vtt

ENGLISH

{{00:00:04}}
Daniela, thank you so much for
joining me here at SuperInvestor.

{{00:00:07}}
Pleasure.

{{00:00:08}}
You are passionate about the role
that private markets can play in

{{00:00:11}}
terms of the impact in the world.

{{00:00:14}}
What are you seeing in that
space and what's making you

{{00:00:16}}
feel optimistic at the moment?

{{00:00:19}}
There are lots of opportunities in
various sectors actually, both in the

{{00:00:22}}
environmental arena but also in social.

{{00:00:25}}
We have investments in education, there is
sustainable aquaculture, circular economy.

{{00:00:29}}
There are several areas that can both
have an impact and also provide investors

{{00:00:36}}
with a great risk adjusted return.

{{00:00:38}}
And so I'm very excited about the whole
space, not just in for that equation, but

{{00:00:44}}
also for the transformational potential
that it has in the whole economy and the

{{00:00:49}}
ripple effects that it can have that are
positive for society, for the planet.

{{00:00:54}}
Do you think the way those investments
are being viewed has changed because they

{{00:00:57}}
used to be seen as little extra thing that
people had to do as part of their kind of

{{00:01:03}}
ESG or regulatory kind of satisfaction?

{{00:01:06}}
And now they're definitely
more mainstream.

{{00:01:10}}
They are, but I don't think
they have changed enough.

{{00:01:12}}
I think they're not mainstream enough.

{{00:01:13}}
And institutional investors
are still not having enough.

{{00:01:18}}
proper impact allocations.

{{00:01:20}}
It's, largely to satisfy a regulatory
requirement or, a net zero promise

{{00:01:26}}
or something along those lines,
rather than having a real allocation

{{00:01:29}}
and seeing this as, wow, this
is the economy of the future.

{{00:01:33}}
These are the companies of the future.

{{00:01:35}}
That's where I should be putting my money.

{{00:01:37}}
And I don't, it's not quite there yet.

{{00:01:39}}
What do you think will shift that think
to some extent, time and track records.

{{00:01:45}}
And I think the demonstration of various
funds like ours that actually deliver on

{{00:01:50}}
the returns, deliver on the impact and
that will reassure, I think investors.

{{00:01:55}}
I hope that it's not the opposite and
a shock because in terms of pricing

{{00:02:00}}
of assets, because of course even last
year, the Institute of Actuaries in

{{00:02:05}}
the UK and Chatham House published
reports saying that portfolios are

{{00:02:10}}
significantly underpricing the risk of
climate and that could lead to a massive

{{00:02:18}}
devaluation and repricing of assets.

{{00:02:20}}
And hopefully that's not what
is going to wake up the market.

{{00:02:24}}
So people need to be looking at
their portfolios to still mitigate

{{00:02:27}}
the risk that's in there from
the wrong source of investments.

{{00:02:30}}
Exactly.

{{00:02:31}}
And impact portfolios are natural
mitigants of that as well.

{{00:02:34}}
In addition to the positive impact and,
the returns, you have a natural mitigation

{{00:02:39}}
because you're not investing in industries
and assets that could be severely impacted

{{00:02:45}}
by, the effects of climate or regulation.

{{00:02:47}}
So are you, convinced?

{{00:02:49}}
Are you, obviously you're biased,
but are you, happy that those

{{00:02:52}}
sorts of investments are meeting
the challenge and are stepping up?

{{00:02:57}}
Yeah, I do think so, actually.

{{00:02:58}}
I think, of course, like you're looking
at each individual organization or

{{00:03:02}}
each individual fund and, they are,
focused and narrow in what they can do.

{{00:03:08}}
But I think if you look at that
as what does a good business look

{{00:03:11}}
like and a good business looks like
Solving a problem with a different

{{00:03:17}}
and profitable business model, right?

{{00:03:19}}
That, that it hasn't a problem,
an unmet problem that hasn't been

{{00:03:22}}
solved with a new, innovative
business model that is profitable.

{{00:03:27}}
I think those things are really
interesting, and of course there are.

{{00:03:30}}
Proven business models
as well and all of that.

{{00:03:32}}
But I think if you look at the bits that
they're doing in general, I think if you

{{00:03:37}}
have a good impact process to there is
greenwashing and there are things that

{{00:03:42}}
are not doing what they say they do.

{{00:03:44}}
But I think if you, have a good process
to identify that, then I think there

{{00:03:48}}
are very good investments that are,
achieving some fantastic milestones.

{{00:03:54}}
I think the correlation between good
governance and success is already

{{00:03:58}}
well documented, isn't it as well?

{{00:04:00}}
Yeah.

{{00:04:01}}
So you have the, so you have the impact
bit, which is really intentional and

{{00:04:05}}
trying to really solve a problem.

{{00:04:06}}
And you have the ESG bit, which is
looking at those risks and looking at

{{00:04:11}}
what does, good governance look like?

{{00:04:13}}
What are the social environmental
risks that, that the company can face?

{{00:04:17}}
So you have the two every impact
investor will also look at ESG.

{{00:04:22}}
And of course, these are
super important things.

{{00:04:25}}
But in addition to that, you still
have, you have a, an additional

{{00:04:28}}
sort of a positive impact that
comes from the product and

{{00:04:31}}
service that are serving a need.

{{00:04:34}}
The conversations you're having
here at super investor, what are you

{{00:04:36}}
hearing and what are you taking away
from this event that you will take

{{00:04:41}}
back to your offices and work with?

{{00:04:43}}
Yeah, I think I think this,
there's the fact that I think

{{00:04:48}}
there is a demand for impact.

{{00:04:52}}
And I do think that most LPs and, actually
most of the funds who are GPs as well

{{00:04:57}}
that are in this area are all focusing in
delivering returns and and good impact.

{{00:05:03}}
So I think that is a very positive thing.

{{00:05:06}}
There needs to be adequate
measures of what success looks

{{00:05:08}}
like as well, doesn't there?

{{00:05:09}}
And that's what you're saying,
any skepticism that there is,

{{00:05:12}}
there needs to be those absolutely
parallel measures of everything.

{{00:05:17}}
Absolutely.

{{00:05:18}}


{{00:05:18}}
You have to measure, you have to measure
the impact, you have to mitigate for the

{{00:05:21}}
impact risk, and you have to measure,
of course, the financial side of

{{00:05:25}}
things, just as you would do normally.

{{00:05:27}}
The impact is an addition.

{{00:05:29}}
So usually, there is extra work
there from, our part, but yeah.

{{00:05:34}}
Finally, the conversations you're
having here at SuperInvestor, what

{{00:05:37}}
do you hope people will take away
from having chatted to you this week?

{{00:05:41}}
I think they'll take away that
there is a great opportunity here

{{00:05:44}}
in terms of impact investing.

{{00:05:45}}
And and even though it doesn't
have the hundred year track record

{{00:05:50}}
that traditional investment has, it
actually has some track record already.

{{00:05:54}}
And we can look into that to, to
actually see that it works and it

{{00:05:59}}
works for returns as well as impact.

{{00:06:02}}
Daniela.

{{00:06:02}}
Thank you so much.

{{00:06:03}}
Great to hear your insights.

{{00:06:04}}
Thanks for joining me.

{{00:06:05}}
Pleasure.

Daniela, thank you so much for
joining me here at SuperInvestor.

You are passionate about the role
that private markets can play in

What are you seeing in that
space and what's making you

There are lots of opportunities in
various sectors actually, both in the

We have investments in education, there is
sustainable aquaculture, circular economy.

There are several areas that can both
have an impact and also provide investors

And so I'm very excited about the whole
space, not just in for that equation, but

also for the transformational potential
that it has in the whole economy and the

ripple effects that it can have that are
positive for society, for the planet.

Do you think the way those investments
are being viewed has changed because they

used to be seen as little extra thing that
people had to do as part of their kind of

And now they're definitely
more mainstream.

They are, but I don't think
they have changed enough.

And institutional investors
are still not having enough.

It's, largely to satisfy a regulatory
requirement or, a net zero promise

or something along those lines,
rather than having a real allocation

and seeing this as, wow, this
is the economy of the future.

That's where I should be putting my money.

What do you think will shift that think
to some extent, time and track records.

And I think the demonstration of various
funds like ours that actually deliver on

the returns, deliver on the impact and
that will reassure, I think investors.

I hope that it's not the opposite and
a shock because in terms of pricing

of assets, because of course even last
year, the Institute of Actuaries in

the UK and Chatham House published
reports saying that portfolios are

significantly underpricing the risk of
climate and that could lead to a massive

And hopefully that's not what
is going to wake up the market.

So people need to be looking at
their portfolios to still mitigate

the risk that's in there from
the wrong source of investments.

And impact portfolios are natural
mitigants of that as well.

In addition to the positive impact and,
the returns, you have a natural mitigation

because you're not investing in industries
and assets that could be severely impacted

by, the effects of climate or regulation.

Are you, obviously you're biased,
but are you, happy that those

sorts of investments are meeting
the challenge and are stepping up?

I think, of course, like you're looking
at each individual organization or

each individual fund and, they are,
focused and narrow in what they can do.

But I think if you look at that
as what does a good business look

like and a good business looks like
Solving a problem with a different

That, that it hasn't a problem,
an unmet problem that hasn't been

solved with a new, innovative
business model that is profitable.

I think those things are really
interesting, and of course there are.

Proven business models
as well and all of that.

But I think if you look at the bits that
they're doing in general, I think if you

have a good impact process to there is
greenwashing and there are things that

But I think if you, have a good process
to identify that, then I think there

are very good investments that are,
achieving some fantastic milestones.

I think the correlation between good
governance and success is already

So you have the, so you have the impact
bit, which is really intentional and

And you have the ESG bit, which is
looking at those risks and looking at

What are the social environmental
risks that, that the company can face?

So you have the two every impact
investor will also look at ESG.

And of course, these are
super important things.

But in addition to that, you still
have, you have a, an additional

sort of a positive impact that
comes from the product and

The conversations you're having
here at super investor, what are you

hearing and what are you taking away
from this event that you will take

Yeah, I think I think this,
there's the fact that I think

And I do think that most LPs and, actually
most of the funds who are GPs as well

that are in this area are all focusing in
delivering returns and and good impact.

So I think that is a very positive thing.

There needs to be adequate
measures of what success looks

And that's what you're saying,
any skepticism that there is,

there needs to be those absolutely
parallel measures of everything.

You have to measure, you have to measure
the impact, you have to mitigate for the

impact risk, and you have to measure,
of course, the financial side of

So usually, there is extra work
there from, our part, but yeah.

Finally, the conversations you're
having here at SuperInvestor, what

do you hope people will take away
from having chatted to you this week?

I think they'll take away that
there is a great opportunity here

And and even though it doesn't
have the hundred year track record

that traditional investment has, it
actually has some track record already.