Incofin recognized as an Emeritus Manager in the ImpactAssets 50 2025

Incofin is proud to be selected as an Emeritus Manager in the ImpactAssets 50™ (IA 50) 2025. This recognition celebrates our long-standing commitment to delivering financial returns while driving meaningful social and environmental impact across emerging markets.

Today, ImpactAssets released the IA 50 2025, the definitive guide to impact investment fund managers globally. Now in its 14th year, the IA 50 is the industry’s most comprehensive resource for identifying best-in-class impact fund managers. This year’s edition includes a record 165 impact investment fund managers, reflecting the continued expansion of the impact investing sector.

The IA 50 2025 highlights key market trends, including a 35% year-on-year increase in total assets under management (AUM) among IA 50 firms, reaching $130.6 billion. The Emeritus Managers category, which includes Incofin, recognizes firms with a long-term track record of excellence in impact investing.

Market trends in the IA 50 2025

Growing institutional-scale managers – 24 IA 50 firms now manage over $1 billion in AUM, a 33% increase over previous years.
Financial returns and impact alignment – 46% of IA 50 managers target market-rate returns, while 28% pursue above-market returns.
Social and climate impact priorities – 50% of IA 50 managers focus on financial inclusion and community development, while 33% prioritize climate-related investments.
Increased impact verification – 28% of core IA 50 managers and 24% of Emeritus managers undergo third-party impact verification.

Leadership insights

“This year’s IA 50 showcases how impact investing is quickly coming of age – not only in scale and financial sophistication, but also in accountability and rigor. The increasing prevalence of third-party impact verification, larger institutional-scale fund sizes and record-breaking newer entrants signal a maturing market that remains deeply committed to driving positive change.”
– Jed Emerson, IA 50 Review Committee Chair, Chief Impact Officer at AlTi Global

“As impact investing continues its march into the financial mainstream, the IA 50 has become a powerful barometer of industry maturation and the most respected recognition in our sector. The scale, growth and credibility of this year’s IA 50 managers demonstrate that impact investing is not only thriving, it is becoming an undeniable force in the market.”
– Margret Trilli, CEO and Chief Investment Officer, ImpactAssets

“The IA 50 not only reflects where impact investing is today, but also provides a roadmap for its future. The rigorous selection process and expert review that define the IA 50 reinforce its position as the industry’s gold standard – giving investors confidence that the firms featured are at the forefront of driving meaningful impact.”
– Rehana Nathoo, IA 50 Review Committee Member, Founder and CEO, Spectrum Impact

A commitment to lasting impact

Incofin is honored to be recognized as an Emeritus Manager, a testament to our long track record in impact investing excellence. We remain committed to expanding access to finance, supporting sustainable businesses, and helping communities thrive.

With over $1.1 billion in assets under management, Incofin has invested $4.7 billion through equity and debt financing, supporting entrepreneurs, smallholder farmers, and inclusive businesses in 50+ countries. Our team of 90+ professionals, based in Belgium, Colombia, Kenya, and India, continues to drive impact through responsible investment.

As impact investing grows, Incofin remains committed to ensuring that capital is a force for good, creating economic opportunities while strengthening communities.

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