Job Description
Position: Impact Investments Intern – Summer 2022
Reports To: Associate Director, Impact Investments
Location: Chicago, Illinois (Hybrid)
Duration: June 13 -August 11, 2022
Compensation: Paid Internship
About the Foundation:
The John D. and Catherine T. MacArthur Foundation is one of the nation's largest independent foundations. The Foundation supports creative people, effective institutions, and influential networks building a more just, verdant, and peaceful world. MacArthur is placing a few big bets that truly significant progress is possible on some of the world’s most pressing social challenges, including advancing global climate solutions, decreasing nuclear risk, promoting local justice reform in the U.S., and reducing corruption in Africa’s most populous country, Nigeria. In addition to the MacArthur Fellows Program, and the global 100&Change competition, the Foundation continues its historic commitments to the role of journalism in a responsible and responsive democracy, as well as the vitality of our headquarters city, Chicago. Organizations supported by the Foundation work in about 50 countries. In addition to Chicago, MacArthur has offices in India and Nigeria. For more information, please visit our website at www.macfound.org.
About Impact Investments:
For nearly 40 years, the Impact Investments team has been building the field of impact investing and providing catalytic capital to expand opportunity, empower and improve quality of life among marginalized communities, and drive social and environmental progress. Our $500 million portfolio of impact investments take the form of loans, equity, guarantees, and other financial instruments to enable social and environmental outcomes that would not be possible otherwise; unlock investment beyond what we could achieve on our own; pioneer new products or services, serve new people or places, attract new investors; build market infrastructure; and/or spur useful policy change. In addition, we provide field-building grants to support a more robust impact investing ecosystem.
General Summary of Internship:
Under the direction of the Associate Director of Impact Investments, the Intern will serve as an active team member, participating in regular meetings covering strategy, due diligence, execution and portfolio management. This role is designed to give exposure to critical aspects of managing the Foundation’s $500 million allocation of capital dedicated to impact investments and to the field of impact investing more broadly.
Additionally, the Impact Investments Intern will:
Collaborate closely with the Foundation’s Chicago Commitment team on the development of a new strategy to use impact investing to help advance community development focused on retail and commercial investment in historically underserved and disinvested communities in Chicago. This includes a landscape review of community development organizations in Chicago in order to identify a list of potential investees with a pipeline of developable opportunities, assistance in the development of an approach for outreach and solicitation of interest in applying for investment capital, and the creation of a timeline by which investment and grant capital will be committed and deployed.
Contribute to team efforts related to portfolio management, pipeline development, due diligence, and governance.
Engage with a series of special projects to be determined based on emerging priorities.
In addition to the work outlined above to advance the strategy and existing projects within Impact Investments, professional development will be a core element of this internship. Specific networking meetings, both internal and external to the Foundation, will be arranged with a focus on the targeted areas and sectors of interest of our intern.
Qualifications:
Currently pursuing a graduate degree in business, finance, economics, public policy, or a related discipline
Excellent academic record
Outstanding quantitative, financial, and analytical skills
Excellent judgment and interpersonal skills
Demonstrated interest or experience in impact investing
Interest in assessing social, environmental, and economic impact
Intellectual curiosity, broad interests, and a solid grasp of the Foundation’s work
Highly collaborative but also able to work independently
Excellent written, oral, and visual communications skills
Able to function effectively as a team member and work independently as needed
Able to prioritize, and meet work deadlines consistently
Proficiency in Microsoft Office products, including advanced Excel skills
Application Process:
Applicants should submit a cover letter and resume. As a requirement, students “must be returning back to school” to be eligible. Students meeting the minimum requirements should apply through the MacArthur Foundation website (www.macfound.org/jobs). The internship posting is listed under the About Us/ Employment tab.
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