The Bertha Centre has partnered with the Grunin Center for Law and Social Entrepreneurship at NYU School of Law to equip impact investing professionals, particularly lawyers, with the knowledge and skills to effectively serve high impact organisations wanting to raise capital.
This three-part webinar series provides an opportunity to learn from international and local legal experts in the field. Participants will be exposed to a broad range of impact investing vehicles and gain insights into the practical legal issues that come about when making and living with an impact investment.
19 July 2018
You can watch the webinar from the comfort of your office or home but you could also join a group of like-minded professionals and engage from one of three venues in South Africa and Kenya.
The purpose of participating via one of these venues would be to network and share experiences after the official session has ended. We hope to create a community of practice through this series that will culminate in a gathering next year and hopefully spur some of you to represent the continent at the Grunin Centre conference in New York in 2019.
The second session will be held in October 2018 with a focus on “Blending and Scaling Capital” and the third session will be held in January 2019 with a focus on the “Mainstreaming of Impact”.
Don’t miss out on this world class opportunity.
This webinar is for legal practitioners, impact investors, consultants, financial intermediaries and social enterprises interested in the key legal issues arising in impact investing deals.
SESSION I: EMBEDDING IMPACT INTO DEAL STRUCTURES
In this first webinar of the series, participants will learn about legal approaches to putting together and managing an impact investment throughout its life cycle - from due diligence to exit (and beyond).
Embedding Impact in Deal Structures and Terms: Governance, Alignment, and Innovation
This discussion will address recent thinking on embedding impact into deal structures and terms, with a focus on governance, alignment, and use of metrics to support investor aims. The panel will consider new research, shedding light on the “as-is” state of the impact market, as well as new thinking on structures, metrics, and terms that incentivize and achieve impact. Speakers will outline the results of their ongoing projects, including projects to amass details on impact terms options (such as the Impact Terms Project), a recent empirical study of terms used in impact fund agreements and investment documentation, and examples from impact projects. We also will focus on managers’ fiduciary obligations, metrics-based compensation, and the structure of investor rights in the impact context.
Responsible Exits: Governance and Other Tools to Ensure Impact After Exits
Impact investors generally seek to create long-term positive change; this panel will focus on governance and other practical steps to ensure mission preservation and responsible exits. Speakers will draw on case studies and discuss issues that investors who are exiting may face (such as seller or buyer concerns about mission status and preservation, and ESG, corruption, and related concerns) and legal and practical strategies and tools that can support creating lasting impact and facilitating successful exits. Participants are encouraged to contribute perspectives on ways investors can ensure continuity of impact during and beyond exit.
19 July 2018
17 July 2018
Associate Prof. Deborah Burand (Grunin Centre for Law and Social Entrepreneurship, NYU)
Associate Professor of Clinical Law, Faculty Co-Director, Grunin Center for Law and Social Entrepreneurship, New York University School of Law.
Deborah Burand is an associate professor of Clinical Law at NYU School of Law, where she directs the International Transactions Clinic and is the faculty co-director of the Grunin Center for Law and Social Entrepreneurship.
During 2010-2011, Burand served as general counsel to the Overseas Private Investment Corporation, the development finance institution of the United States. Earlier in her career, she worked in the environmental sector (Conservation International), microfinance sector (FINCA International and Grameen Foundation), and US government (Federal Reserve Board and Department of the Treasury). She also has worked in private practice at a global law firm, where, among other things, she supported, on a pro bono basis, the development of the world’s first debt-for-nature swap.
Burand is a member of the board and Investment Committee of the MicroBuild Fund, an impact investment fund sponsored by Habitat for Humanity International. She is an advisor to the Linked Foundation and Social Sector Franchise Initiative. She co-founded the Impact Investing Legal Working Group (IILWG) and Women Advancing Microfinance (WAM) International.
Burand received her BA from DePauw University cum laude, and a joint degree, JD/MSFS with honors, from Georgetown University.
Executive Director, Grunin Center for Law and Social Entrepreneurship, New York University School of Law.
Carolina Henriquez-Schmitz is the founding Executive Director of the Grunin Center for Law and Social Entrepreneurship at New York University School of Law.
Prior to joining the Grunin Center, she was regional lead and legal manager at the Thomson Reuters Foundation, where she worked with social impact partners around the world to develop strategic resources and capacity-building opportunities in the field of social enterprise and impact investing. In that capacity, she spearheaded the development of the annual TrustLaw Social Enterprise and Impact Investing Training and managed an award-winning pro bono service that facilitates free legal support for social enterprises, educates lawyers to more effectively serve the needs of social entrepreneurs, and develops legal research and tools that strengthen the impact investing ecosystem.
Earlier in her career, Henriquez-Schmitz worked in private practice at two leading international law firms, where she specialized in international finance, dispute resolution, and business and human rights. She was also a legal expert for the ABA Center for Human Rights and previously worked as a legal fellow for the Zambian Law Development Commission and at the World Bank in Latin America.
Carolina is a dual-qualified lawyer in the U.S. and Venezuela and holds an LLM from Harvard Law School. She speaks English, Spanish and French.
Principal/General Counsel, LeapFrog Investments
Tom Brunner works across LeapFrog on legal and other projects and is LeapFrog’s compliance officer. Through August, 2016, he served as LeapFrog’s first general counsel. He previously was founder and chair of the Insurance Practice at Wiley Rein, one of the leading insurance law practices in the US, representing American and international insurance carriers.
Brunner was awarded the Wiley A. Branton Award for Civil Rights Advocacy in recognition of his commitment to the pro bono civil rights legal community. He is widely recognized as one of “America’s Leading Business Lawyers” (Chambers USA; Best Lawyers in America; Lawdragon; Who’s Who) and one of “The World’s Leading Insurance and Reinsurance Lawyers” (Legal Media Group; International Who’s Who of Business Lawyers).
Brunner holds a JD from Yale and an AB cum laude from Columbia University.
Member, Clark Hill
Mary Rose Brusewitz is a member at the law firm of Clark Hill PLC. She concentrates her legal practice on international matters and is active in the areas of impact investing, sustainability, accountability, corporate governance, ESG compliance, and climate change. She supports impact investors in structuring, implementing, administering, and exiting impact debt and equity investments globally, including in Latin America, Africa, Asia, and Eastern Europe. Sectors in which her clients are active include the microfinance industry, renewable energy, retail, sanitation, housing, and currency hedging.
Brusewitz has substantial experience in emerging markets development and finance and is active in project and structured financing, private equity, cross-border investments and joint ventures, restructurings, workouts, insolvencies, dispute resolution, mediation, and other areas. She is a pro bono supervising attorney with the International Transactions Clinic at NYU School of Law and was a panel member and panel chair of the independent accountability mechanism at the Inter-American Development Bank.
Brusewitz earned her JD from UCLA School of Law and a BA in anthropology from UCLA. She speaks English, Spanish, and Portuguese.
Partner, Womble Bond Dickinson (US)
Pamela Rothenberg is a partner in the Washington, DC, office of Womble Bond Dickinson (US), where she practices in the areas of commercial real estate, business, and entrepreneurship. She is a change agent and founded her firm’s Impact Business, leading a team of more than 40 firm professionals who provide a complement of strategic and legal services at the cutting edge of the rapidly growing impact economy.
The firm’s impact clients range from large legacy businesses to high-growth entrepreneurial ventures that seek to “grow their competitive advantage with impact.” Rothenberg’s mission is to harness the positive power of businesses to generate revenue and solve endemic social problems. She serves on a number of boards, including the Advisory Board for the Dingman Center for Entrepreneurship at the University of Maryland.
Rothenberg received her BA summa cum laude in history from Tufts University and her JD from Northwestern University School of Law.
Partner, Bowmans, South Africa
David Geral is a partner in Banking and Finance Department, and is the head of Banking and Financial Services Regulatory Practice at Bowmans, South Africa.
He specialises in pensions, healthcare, group insurances and equity-linked incentive schemes. He is also a leading attorney in relation to impact investing, social impact bonds and environmental, social and governance related (ESG) investing in South Africa.
David has BA and LLB degrees from the University of Cape Town and holds a certificate in Impact Investing in Africa from the University of Cape Town.
Principal Counsel, International Finance Corporation
Glen Russell is principal counsel at International Finance Corporation, a member of the World Bank Group. He has over 20 years of experience working both in-house and at several law firms. He is currently based in IFC’s Istanbul office. Prior to this, Russell spent a number of years working out of IFC’s Bangkok, Nairobi, and Washington offices.
Russell works on high-impact projects across all sectors and investment types. He is also lead counsel on IFC’s investments in sustainable impact fund structures targeting SMEs in fragile and low-income countries.
He was previously regional lead counsel for IFC’s PE investment practice in Africa. He is qualified in both South Africa and England.
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