Transforming the way development is financed:Palladium buys Enclude from Triodos Bank

Global impact firm Palladium has acquired Enclude from Triodos Bank to further strengthen capabilities in impact investing, inclusive finance and international development

• Enclude is represented across the UK, US, Europe and emerging markets globally  and has mobilised over USD500 million in capital seeking a positive impact
• With experts estimating a $5 trillion gap between current funding levels and what it will take to accomplish the UN’s Sustainable Development Goals (SDGs), the acquisition will help address the challenge by unlocking pricate capital.

Global impact firm Palladium has acquired financial advisory firm Enclude to merge with its economic development and impact investing practices.

Palladium has bought Enclude from Triodos Ventures, an independent fund managed by Netherlands-based Triodos Bank which is a pioneer in sustainable values-based banking. The acquisition will deepen Palladium’s technical expertise, while allowing Enclude to scale its efforts and impact. Triodos Ventures will become the first institutional shareholder in majority staff-owned Palladium.

Established in 2012 as the merger of ShoreBank International and Triodos Facet, Enclude provides capital advisory and capacity building services to help drive inclusive, sustainable growth in developing economies, by working with entrepreneurs and impact investors.

The company has three main offices (Netherlands, the US, and the UK) and is represented across the world. Its capital advisory business offers investment banking services for companies that are seeking to make a positive impact and is regulated by the UK’s Financial Conduct Authority (FCA). These services include raising capital and managing responsible exits for investors. So far, Enclude has mobilised over USD500 million in capital for impact investing transactions.

Palladium is a AUD500 million company with 2,500 employees across 90 countries worldwide. The company recently designed the world’s first Development Impact Bond (DIB) in health care to reduce mother and infant deaths in Rajasthan, India. Palladium’s latest impact investment was a cash boost to female-owned Naasakle to support more than 5,000 women shea nut pickers in northern Ghana.

“To meet the UN Sustainable Development Goals, we must tap private capital,” explains Laurie Spengler, CEO of Enclude. “Joining Palladium will allow Enclude’s capabilities to be leveraged for greater reach and results.”

Christopher Hirst, incoming CEO of Palladium, agrees: “Making the world a better place is resource intensive, and we want to transform how development is financed in the future. Our vision is to bring a commercial approach to international development, unlocking vast sums of private capital for multiple projects around the world. These new models ensure accountability and full transparency in the process, and ultimately, improve people’s lives.”

Peter Blom, CEO of Triodos Bank: “Palladium’s acquisition of Enclude presents a great opportunity for the Enclude impact investing advisory services to develop scale and to accelerate their ability to create impact. We are proud to have been part of the early history of Enclude and we are happy to stay connected to future developments through our shareholding in Palladium.”