December 19, 2022
BY ImpactAlpha | News
Napoleon Wallace’s presence was all over the recent Mission Investors Exchange conference in Baltimore. …As the co-founder of Activest, which showcased its “fiscal justice” strategy to center racial equity in fixed-income investments. …As a founding partner of Partners in Equity, which presented...
October 19, 2022
BY Ceres | News
Ceres and Trillium Asset Management were deeply honored to present the 2022 Joan Bavaria Award to Napoleon Wallace at Evening with Ceres. Napoleon is a pioneering leader and strategic thinker who has launched, led, and advised numerous successful impact-focused finance...
May 3, 2022
BY Next City | News
In a municipal bond sale dated April 21, 2022, the Louisville/Jefferson County Metro Government in Kentucky borrowed $212 million from investors. It was a “general obligation bond” sale, meaning the metro government will repay the bonds out of local tax revenues,...
March 15, 2022
Since 2015, Activest has been a leading voice in acknowledging the materiality of Fiscal Justice™ in municipal finance. Fiscal justice is Activest’s multilayered, critical analysis of the equity of municipal budgets—measured at the intersection of fiscal health and racial justice....
February 24, 2022
BY Wharton School of the University of Pennsylvania | News
Local governments differ in the environmental, social, and governance (ESG) outcomes they provide their residents, such as rates and distribution of toxic emissions, incarceration, and health outcomes. These outcomes are related to the quality of life of residents within a...
October 16, 2021
BY New York Times | News
A new project aims to incorporate the cost of lawsuit settlements and inequality when rating municipal bonds. Napoleon Wallace, a bond analyst and municipal budget wonk, sees disaster in the finances of America’s largest cities where others do not. Read...
June 15, 2021
BY Bloomberg | News
According to a report published in May by Activest, a racial justice investment research firm. Given the scale of the impact, the judgment “is a start, but it falls short of a fiscally-just investment,” according to the report from Activest co-founder...
May 19th, 2021
BY MarketWatch | News
Read MarketWatch’s coverage of Activest’s brief on the upcoming Flint water settlement bonds
Jan 14, 2021
BY Various | News
In letters submitted to the three largest rating agencies, Activest, Pennsylvania Treasurer Joe Torsella, and a coalition of advocates called on S&P, Moody’s, and Fitch to explicitly evaluate the risk to investors when municipalities rely on criminal justice fines and...