Our Portfolio

In the United States

In 2007, the Kellogg Foundation earmarked $75 million for mission driven investing in the United States. The U.S. mission driven investment team has strategically aligned all investments to advance the Foundation’s mission and grantmaking focus on educated kids, healthy kids, and secure families, especially in geographic focus states of Michigan, Mississippi, New Mexico and the city of New Orleans. The portfolio is diversified by asset classes of cash, fixed income, and private equity.

There is no specific duration or maturity target for investments in the United States. Broadly, the goal is to balance four factors:

• Put endowment money to work driving impact in the near term
• Invest in ways that give us the ability to see and assess some financial and social results in the near term
• Invest in a manner consistent with our long-term commitment to groups and communities in which we work
• Explore a range of types of investments with different time horizons.

In Africa

We have invested $23.4 million in two Africa fund managers. Agri-Vie Fund focuses on expansion stage agribusinesses. Vantage Capital provides mezzanine debt to mid-size companies. We track a financial return commensurate with emerging market private equity and a social return focuses on jobs and black economic empowerment.

In Latin America and the Caribbean

Currently, we do not have an active mission driven investment program in this region; over the next 6 to 12 months we will be developing that program.