Nearly a decade after its arrival on the social finance scene, impact investing is still growing in popularity. Hedge fund managers have been slow to adopt the strategy, although other types of investment managers are already gathering assets in this space. Yet as the hedge fund industry continues to face performance headwinds, it may be time to take a closer look at how this type of sustainable investing may support alpha generation. Defined as ”the intentional allocation of capital to generate a positive social or environmental impact that can be—and is—measured,”¹ impact investing blends the earlier concepts of investment screens...