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Social Finance US
Founded 2011
Headquarters Boston, MA
Leadership Tracy Palandjian, Co-Founder and Chief Executive Officer
Lara Metcalf, Managing Director
Jeff Shumway, Vice President of Advisory Services
Board of Directors

Bracebridge H. Young, Jr., Chair
Mariner Investment Group

David Blood, Treasurer
Generation Investment Management

Pamela Dippel Choney
Former Wellington Management Company

Sir Ronald Cohen
Big Society Capital, G8 Social Impact Investing Taskforce

Luther M. Ragin, Jr.
Global Impact Investing Network

Sandra A. Urie
Cambridge Associates

Nancy Zimmerman
Bracebridge Capital

Social Finance, Inc. is a 501(c)(3) non-profit organization based in Boston, Massachusetts, USA, that provides advisory, transaction development and project management services to governments, service providers and impact investors engaging in Pay-for-Success (PFS) and Social Innovation Financing (SIF). Core to the firm’s work is the Social Impact Bond (SIB), a tool that draws upon private capital to fund evidence-based social interventions at scale.


The three organizations work closely together, but are independently funded and managed.

Core activities[edit]

  • Advisory Work: Feasibility studies, consulting assignments and development and implementation of proof-of-concept demonstration programs.
  • Transaction Execution: Financial structuring, cost-benefit analysis, metrics and evaluation design, capital raising and contract development.
  • Post-Transaction Support: Performance and fiscal management of projects, accounting and compliance and investor relations.
  • Field Building: Market education, thought leadership and research.

Social Impact Bonds[edit]

In a SIB partnership:

  • Private investors fund a social service program focused on prevention.
  • Government repays investors based on the program's success in achieving pre-determined social outcomes.
  • If outcomes are achieved, investors can recoup their principal plus a rate of return.
  • If the program does not achieve those outcomes, then government is not obligated to repay investors.

Under a successfully deployed SIB:

  • Government only pays for the results, as the SIB shifts performance risk from government to investors.
  • Service providers receive upfront funding to serve larger populations.
  • Communities and people in need receive quality services.
  • Investors generate both a positive social impact and a potential return on their investment.


  • Tracy Palandjian, CEO and co-founder: Before co-founding Social Finance, Palandjian was a managing director for 11 years at The Parthenon Group where she led the Nonprofit Practice. Her work experience also includes Wellington Management Company and McKinsey & Company.
  • Jeff Shumway, vice president of advisory services: Shumway works to increase the firm's capacity to help service organizations pursue pay-for-success. Before joining Social Finance, Shumway spent nearly a decade with the Bridgespan Group. His professional experience also includes the Monitor Group and the Metropolitan Housing and Communities Policy Center at the Urban Institute.
Source: en.wikipedia.org
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