#United States #New York City #Variant Investments #Drake Hicks #Impact Fund

Variant Investments Welcomes Drake Hicks as Vice President of Impact

Portland, Ore. - July 1, 2025 – Variant Investments, LLC, a leading SEC-registered alternative credit investment manager, has announced the appointment of Drake Hicks to the role of Vice President of Impact. With close to $3 billion in assets under management, Variant is poised to deepen its initiatives in impact investing, and Hicks' diverse background makes her a perfect fit for this strategic position.

Hicks will operate out of New York City, reporting directly to Bob Elsasser, one of the company's Principals and Co-founders. In her capacity, she will spearhead the firm’s approach to impact investments while strategically augmenting its engagement with the broader impact community and enhancing the scope of the Variant Impact Fund (IMPCX).

Before her tenure at Variant, Hicks demonstrated her capability as the Head of Strategic Partnerships at Manifest Climate, an innovative climate technology startup specializing in AI solutions. She played a crucial role in integrating the company's technology with the Microsoft Azure Marketplace, showcasing her aptitude for strategic collaboration and technological advancement. Prior to that, Hicks served as the ESG Lead for Base 10 Partners, which is recognized as the largest Black-led venture capital firm in the U.S. She has also made a significant impact in her role as the Head of Impact Investing for the JPB Foundation, where she launched an impactful investing mandate that allocated $55 million towards addressing critical issues such as poverty, environmental challenges, and medical research. Her career began in structured finance at BlackRock, where she gained valuable insights into global finance operations in major cities like New York, Frankfurt, and Singapore.

"We’re thrilled to welcome Drake to Variant," said Elsasser. "Her rich blend of institutional knowledge, visionary leadership, and unwavering commitment to impactful investing makes her an invaluable asset to our team. As we refine our impact underwriting processes, enhance our measurement capabilities, and expand our engagement in the U.S. and internationally, her expertise will accelerate our growth and success."

Hicks holds dual degrees, a Bachelor's in Asian and International Studies from Williams College and an MBA from INSEAD, where she studied in Fontainebleau, France. Besides her professional pursuits, she dedicates her time to social impact, serving on the board of Reclaim Childhood, a nonprofit organization focused on creating safe spaces for refugee and local girls in Jordan.

The Variant Impact Fund (IMPCX) manages approximately $92 million in assets and is dedicated to generating high current income while aligning investments with the United Nations Sustainable Development Goals. Such goals emphasize areas like financial inclusion, equitable economic growth, and responsible consumption practices.

Since its inception on November 1, 2021, IMPCX has achieved solid returns, boasting an annualized net return of 9.71% through May 31, 2025, thus outperforming notable benchmarks like the Bloomberg U.S. Aggregate Index, Bloomberg U.S. High Yield Index, and the SP 500 Index. The following data illustrates the impressive performance of the Variant Impact Fund compared to various benchmarks:


Source: Variant Investments, Bloomberg

An investment in Variant’s funds carries inherent risk and is structured as non-diversified, continuous offering closed-end funds. Potential investors should evaluate their investment strategies and consider the risks associated before making strides into impact investing.

For further details, please visit www.variantinvestments.com.