NEW YORK, June 8, 2021 /PRNewswire/ -- StoneCastle Cash Management, LLC, ("StoneCastle"), a recognized cash management leader for institutions, endowments, Registered Investment Advisors, and family offices has become one of Confluence Philanthropy's ("Confluence") newest associate members. Confluence is a highly regarded and influential community of investors with a mission to transform the practice of investing by aligning capital with its community's values of sustainability, equity, and justice.
"We could not be more thrilled to be welcomed by the wonderful people at Confluence," said Eric Lansky, President of StoneCastle Cash Management. "It is a great privilege to enable firms to align cash balances with their values via our FICA Impact solution by efficiently moving funds to minority owned banks and other financial institutions that support underserved communities without sacrificing safety, liquidity, or yield. Seeing the collective good our clients are doing with impact underscores why we wanted to be a part of the Confluence community to do more."
Confluence supports and brings together a network of private, public, and community foundations, family offices, and individual donors currently representing more than $92 billion in philanthropic assets under management, and more than $3.5 trillion in managed capital.
"As we drive our mission forward, one of the goals is to be inclusive of new ideas and solutions across all asset classes that are meaningful to values-conscious investors in our community," said David Estrada, Managing Director at Confluence. "StoneCastle brings a unique impact cash solution, which directly addresses an underserved asset class in the industry. We are excited to see several members currently utilizing the FICA Impact solution, making their cash an effective component of a values-aligned portfolio."
About StoneCastle Cash Management, LLC
StoneCastle Cash Management, LLC provides deposit and liquidity solutions to some of the world's most recognized brands, including Fortune 500 companies, colleges and universities, family offices, endowments and foundations, high net worth individuals, and public funds. With more than 900 network banks and approximately $20 billion through its deposit programs, StoneCastle and its affiliates continue to be a proven and valued partner to its clients for more than a decade.
About Confluence Philanthropy
Confluence Philanthropy's mission is to transform the practice of investing by aligning capital with our community's values of sustainability, equity, and justice. We support and catalyze a membership network of private, public and community foundations; family offices; individual donors; and their values-aligned investment advisors representing more than $70B in philanthropic assets under management, and over $3.5T in managed capital. Confluence is an international organization, with the majority of members based in the U.S., and a handful in Europe, Canada, Latin America, and East Africa. Our members represent a diversity of institutions, charitable asset types, personal and professional roles, and programmatic missions, but we share a commitment to values aligned investing. Two national annual conferences, webinars, training, and specific investment and change strategies translate learning and connection into concrete action. We promote value alignment, when prudent and feasible, through a variety of asset classes, investment vehicles and advocacy strategies, including cash, proxy voting, shareholder engagement, program-related investing, screening public equities, and private equity. Confluence is headquartered in New York City.
SOURCE StoneCastle Cash Management, LLC