General Atlantic Foundation

The Foundation is an arm of General Atlantic, an investment fund with almost $100 billion in assets. According to tax documents, General Atlantic and the Foundation share numerous personnel in leadership positions.  ^{2 3 4}

 History

The General Atlantic Foundation was created by Chuck Feeney in 1980. Feeney became a billionaire after co-founding Duty Free Shoppers, a duty-free luxury retail store chain that was started in Hong Kong in 1960. ⁵ In 1987, General Atlantic helped found Echoing Green, a nonprofit that supports entrepreneurs focusing on social justice movements, such as the founder of Teach for America. ²

Chuck Feeney lived his life lavishly, but after reading the Carnegie Gospel of Wealth he decided to focus on using his money for philanthropic purposes. In 1984, he gave all of his shares, worth hundreds of millions, to the Atlantic Foundation. He sold the shares to Louis Vuitton in 1996 for $3.5 billion and used that money to continue his philanthropic ventures. ^{6 7}

Acquisitions

Partners Capital

In 2024, General Atlantic acquired a minority stake in Partners Capital, an investment firm that manages $50 billion for endowments, foundations, family offices, and ultra-high net worth individuals. General Atlantic made this acquisition through a fund, not through a traditional purchase which would show on a balance sheet. Partners Capital argues General Atlantic’s investment strategy, which is ESG-based, is crucial to Partners’ long-term financial success. ⁸

Actis

In 2024, General Atlantic acquired Actis, a London-based sustainable infrastructure investment group that manages about $12.5 billion in assets. The chief executive officer of General Atlantic, Bill Ford, said the acquisition will help in the ‘global paradigm shift toward sustainability.’ Specifically, it will strengthen General Atlantic’s portfolio and bring in more investors to push for sustainability, becoming a key concern for businesses in the future. With this acquisition, General Atlantic will be directly managing nearly $96 billion in assets. ⁹

Partners

The Nature Conservancy

The General Atlantic Foundation notes that The Nature Conservancy is one of its main partners. The Nature Conservancy is a foundation focused on environmentalist causes, including ending the use of fossil fuels and removing carbon from the atmosphere by imposing regulations on agricultural management. ^{2 10}

Asia Society

The Asia Society is an international nonprofit that focuses on U.S.-Asia relations and is committed to DEI. The Asia Society was founded by John D. Rockefeller III, who also ran or was on the board of the Rockefeller Brothers Fund and the Rockefeller Foundation. When talking about DEI the Asia Society says, “At a time when organizations are being asked by employees how they plan to establish equity and tackle race discussions, unconscious bias, and structural bias, Asia Society is re-committing to building a respectful and inclusive environment.” ^{11 12 13 3}

Girls Who Invest

Girls Who Invest is a nonprofit that focuses on getting more women into the investment industry. The group believes the investment industry has been challenged by its lack of diversity, especially compared to law, academia, and medicine. ^{4 14 2}