Website MacArthur Foundation
Position: Impact Investments Intern – Summer 2024
Reports To: Portfolio Manager, Impact Investments
Location: Chicago, Illinois (Hybrid)
Duration: June 4 – August 14, 2024
Compensation: Paid Internship (hourly rates will start at $20/hour)
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. More information is at www.macfound.org.
About Impact Investments
For 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 Portfolio Manager, 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 supporting the field of impact investing more broadly.
- Support the further development of the Foundation’s impact measurement and management (IMM) systems and processes. Support new and ongoing IMM for major initiatives such as the Catalytic Capital Consortium and Benefit Chicago.
- Contribute to the Impact Investments team’s efforts related to new investing under consideration. This could include landscape or market assessments, assistance in the development of an approach for outreach and solicitation of interest in applying for investment capital, and support for the systemic development of our pipeline of prospective investments.
- 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.
- Currently pursuing a graduate degree in business, finance, economics, public policy, Evaluation, 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 and PowerPoint skills
This internship is based in Chicago, Illinois. Our work environment is hybrid with designated in-office days and virtual days. Interns will be required to reside in the Chicagoland area for the duration of the program.
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.