News & Updates


United Healthcare Newsroom: An investment in pre-K education may empower a lifetime of health

December 02, 2020

Another year of high-quality pre-kindergarten is underway in Memphis and Shelby County, TN for the 2020-2021 school year! The Community Outcomes Fund is honored to have First 8 Memphis and United Health Group as partners in this work to increase school readiness and academic performance through outcomes financing. This partnership between the public sector, local non-profit organizations, and mission-aligned investors finances approximately 1,000 seats of high-quality pre-k and wraparound support for low-income four-year old children. 

Urban Institute: SIPPRA NOFA — An Investor’s Perspective

March 06, 2019

Justin Milner, director of the Urban Institute's Pay for Success Initiative, interviewed co-founder and managing partner of the Community Outcomes Fund, Andi Phillips, to explore how private investors in the pay for success space are thinking about the Social Impact Partnerships to Pay for Results Act (SIPPRA) and the new Notice of Funding Availability (NOFA).

TSEF: The Social Entrepreneurs’ Fund Names Lara Metcalf as New Managing Director

January 30, 2019

Lara Metcalf joins Managing Partner, Liz Luckett to lead TSEF’s third and largest fund focused on entrepreneurs using data and technology to solve tough problems facing vulnerable communities.

Prudential Financial, Inc., Ballmer family, and Kresge Foundation invest in largest U.S. pay-for-success fund to date

May 14, 2018

Prudential Financial, Inc., Steve and Connie Ballmer, and the Kresge Foundation today announced $40 million in investment commitments to the Community Outcomes Fund, a fund to scale pay-for-success (P4S) investments in the United States. 

The Fund, which is being raised and managed by New York-based Maycomb Capital, matches private capital with local priorities and public-sector agencies--such as states, public departments or counties--to invest in social and health services that produce measurable outcomes and deliver financial returns to investors. In the process, the Fund also helps align government resources with evidence-based solutions to social challenges. 

Liz Luckett published in SSIR

February 16, 2018

Small Data for Big Impact: TSEF Managing Partner, Liz Luckett's recent article on the TSEF Investment Thesis in the Stanford Social Innovation Review

In Massachusetts, Investors are Betting on Immigrants

July 06, 2017

A new pay-for-success bond being pioneered in New England helps immigrants obtain better employment opportunities.

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the Community Outcomes Fund


the Social Entrepreneurs' Fund