Prudential, Kresge and Steve Ballmer Back Maycomb Capital’s Pay-For-Success Fund

The Community Outcomes Fund, which will focus on pay-for-success financing, is an initiative of Maycomb Capital. The fund promises to help vet and structure pay-for-success deals on behalf of other investors to ensure “best practices from early-stage pay-for-success transactions are incorporated.”

Prudential Financial and former Microsoft CEO Steve Ballmer and his wife Connie committed $30 million to the fund. The Kresge Foundation added a $10 million loan guarantee to provide credit protection. Kresge will also co-invest $10 million in pay-for-success deals to improve health and human services, Kresge’s Kimberlee Cornett told ImpactAlpha.