Social Impact Investing

Pay For Success
Pay for Success (PFS) is a signature strategy of social innovations. It was originally
pioneered by the Ford Administration as "social impact bonds." PFS offers innovative
ways for the government to build public-private partnerships can be bring capital to test
promising practices and scale programs that work, significantly enhancing the return on
taxpayer investments because government only pays for programs that achieve results.
At the same time, PFS offers the prospect of attracting new investment capital to fund
important social programs, thus potentially boosting the capital available to fund social
programs while creating new return horizons for private investors.
Page 105 of 140