Last updated 13 May 2020, by Impactyield.

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The investment objective of the ALTERRA Sub-Fund is to provide shareholders of each Class with a blended return including realization of initial investment capital plus a reasonable annual financial yield and a clearly articulated and reportable social/environmental return on investment. The ALTERRA Sub-Fund will invest directly in commercial and social enterprises primarily in Europe, in particular established and unlisted small and medium sized (SMEs) companies through private equity investments or other securities, provided that similar minority protections are granted.

Alterra Impact Finance GmbH manages the Fund as a separate sub-fund of the SocialAlpha Investment Fund (SAIF) "umbrella fund", profiled elsewhere on ImpactBase.

Financial description

The ALTERRA Sub-Fund seeks to invest in socially responsible enterprises requiring expansion stage or replacement capital. Social enterprises may include commercial companies, hybrid companies (such as B Corporations or L3C companies (social/public benefit corporations), cooperatives or others, and will be selected on the basis of, inter alia, the following criteria: established operational track record over several years, financial profitability and growth perspectives, quality of products and services when compared to their peers, quality and stability of management team, development of human capital, soundness of governance structure, measurability of the social and/or environmental impact of their activities, responsible corporate behavior, consistency of corporate mission and its expression in the entire value chain, coherence of reporting, exit opportunities, country and sector, as well as alignment of vision between the aspirations and objectives of their main shareholders and those of the ALTERRA Sub-Fund.
The Fund aims to achieve a balanced return between "finance first" and "impact first" by investing in long-only opportunities that create a clear and positive social and/or environmental impact that can be articulated and evaluated/reported. The Investment Manager will use a detailed process to evaluate, verify and report the social and environmental impact of each investment.
Paid up shares will be issued in two classes, preferred and standard class shares.

12 years

of track record


the year funded

50,000,000 EUR


Asset manager

Alterra Impact Finance


Headquarters location:

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Encourage companies to adopt sustainable practices and sustainability reporting

Sustainable food production and resilient agricultural practices

Universal access to sexual and reproductive care, family planning and education

Safe and affordable drinking water

Promote policies to support job creation and growing enterprises

Increase access to financial services and markets

Impact Category

Key performance indicators

Fund overview

Asset manager: Alterra Impact Finance

Product track record: Fund has 12 years of track record

Target IRR: 8%

Committed Capital: 0 EUR (Euro)

Target return category: Below risk-adjusted market-rate of return

Fund domicile:

Product status:


Inception year: 2011

Vintage year: n.a.

Target region: ,

Target close date: 01/06/2013

Product term: 10 years +2x 2-yr ext

Assets under management: 50,000,000 EUR (Euro)

Investment size: Min: 400,000; Max: 1,000,000; Avg: 500,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 0

Fund investments to date exited or repaid: 0

Management fee: 2.5%

Carried interest: 20%

Hurdle rate: 5% preferred class / 3% standard class%

GIIN Investors' Council Investment: No

Limited Partners / Investors: n.a.

Limited Partner / Investor Type: Family Office




Phone number: +41 44 283 60 25

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Cornelius Pietzner

Managing Director

Impact Performance


Impact thesis

The ALTERRA Sub-Fund will invest in enterprises within Europe and in European companies that may have operations in non-­‐European countries. The ALTERRA Sub-Fund will focus on specific sectors and themes. Essential to human prosperity, quality of life, welfare and human dignity are food, water and health. Without these three elements neither individuals, communities nor societies can function properly or thrive and grow. The absence of any of these primary elements is profoundly disruptive to a stable life, with severe negative impacts on both the individual and the larger community or society.
Therefore, the generally preferred investment sectors for the ALTERRA Sub-Fund are:
1) ecological/organic agriculture and food
2) medicine and therapies
3) water remediation technologies and processes
4) and, Lifestyles of Health and Sustainability (LOHAS) and responsible consumer goods.
Each of these sectors presents substantial and viable impact investment opportunities. Additionally, 10% of the carried interest (2% of returns in excess of hurdles) will be directed to The Alterra Foundation, is a Swiss charitable foundation formed in 2010. The purpose of the Alterra Foundation is, among other things, to support, promote and advance research, intellectual knowledge and partnership developments and trends in the field of social finance, and particularly in the area of social impact investment based on a new human-centered paradigm.

Impact Management


Financial benchmark

Term Description:


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