Simpson Thacher represented Impact Shares, a 501(c)(3) investment adviser, on the launch of its first exchange-traded fund (ETF) on July 19, 2018 in partnership with the National Association for the Advancement of Colored People (“NAACP”).
The Impact Shares NAACP Minority Empowerment ETF (NYSE Arca: NACP) provides investors with exposure to a diversified portfolio of large-cap stocks, selected in accordance with social criteria developed in conjunction with the NAACP to ensure that the fund’s investments focus on companies with a track record of empowering minorities.
Impact Shares plans to partner with other charitable organizations to launch additional socially conscious ETFs. As a non-profit itself, Impact Shares will donate the net profits it receives as investment adviser to an ETF to the charitable organization associated with that ETF.
The Simpson Thacher team includes Rajib Chanda (Picture), David Blass, Christopher Healey and Debbie Sutter (Registered Funds); Marcela Robledo (Intellectual Property); and David Shevlin (Exempt Organizations).
Involved fees earner: Rajib Chanda – Simpson Thacher & Bartlett; David Blass – Simpson Thacher & Bartlett; Christopher Healey – Simpson Thacher & Bartlett; Debra Wong Sutter – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; David Shevlin – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;
Clients: Impact Shares;