Athena Capital

Asset Managers (SRI)

Athena Capital Advisors is a privately owned registered investment advisor founded in 1993 by Dr. Lisette Cooper. With about $5.5 billion in assets under management, Athena is headquartered in Lincoln, Mass., and operates a second location in New York City. Athena provides both institutions and private clients with modern portfolio solutions and un paralleled client service. Athena offers clients investment advisory and management, investment administration and reporting, outsourced chief investment officer (OCIO) services, and estate and wealth planning. Employing a customized, research-driven approach to strategic and tactical asset allocation, Athena delivers solutions tailored to clients ’ specific needs. In addition, Athena is a leader in impact investing. For additional information on Athena Capital Advisors, please visit


Impact Investing

Athena has been a well-regarded leader in the field of impact investing for over a decade and recognizes that by building awareness and understanding around the burgeoning field, the larger impact segment will benefit in the form of new products, better measurement capabilities, and growing client demand. As such, the firm has spent considerable efforts developing and executing upon a research-driven thought-leadership campaign to help practitioners grasp the opportunity set and implement their own offering using a proven and tested model.

Over the past 18 months, Athena has hired Bill McCalpin as a Managing Partner to lead Athena’s impact business, and have published three deeply researched white papers. “Social Finance and the Post-Modern Portfolio: Theory & Practice,” was published in the spring edition of The Journal of Wealth Management , offering a new approach to Modern Portfolio Theory that incorporates a social- lens to the traditional risk and return considerations. In January, Athena published new research that mapped out the opportunity set for impact investing across all asset classes. The paper, “Impact Investing: History & Opportunity,” also provided context around the growth of the segment tracing back to its earliest beginnings. Athena’s third paper on the topic, “Building Impact Portfolios,” presented a framework for advisors who invest across asset classes to systematically integrate social and environmental impact into their investment process. All of this research, collectively, creates a precise structure to follow in implementing impact strategies. In addition, Athena has published blog posts discussing core components of impact investing to share with clients.

Category Finalists

Key Business Leader

William F. McCalpin
Managing Partner, Impact Investments

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