Capital Allocators – Inside the Institutional Investment Industry Promote Giving – A New Model for Performance-Driven Giving (EP.496)
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Apr 9, 2026 Joel Holsinger, Co-head of Ares' alternative credit business and founder of Promote Giving, is a seasoned credit investor turned philanthropy mover. He explains a simple pledge: commit up to 5% of fund promote to charity. The conversation highlights how the idea scaled, early grants and signatories, cultural benefits for managers, and ambitions to channel billions to good causes.
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From Modest Roots To Philanthropic Investment Leader
- Joel Holsinger grew up in a religious and medical family, worked through college, and pivoted from engineering to finance after an early internship at Citigroup.
- His career path led from Citigroup to Fortress and then to Ares, where personal values and a PATH board trip to India drove his philanthropic focus.
Pathfinder Started With A Personal Promote Commitment
- Joel negotiated giving tied to his role at Ares: he offered 5% of his promote and asked Ares to match for the Pathfinder flagship, creating a durable giving vehicle inside the firm.
- Pathfinder has accrued over $50 million to support global health and education and now represents nearly half of Ares' capital under management in that family of funds.
Tying Promote To Philanthropy Changes Culture Without Costing Investors
- Embedding giving into compensation structures changes firm culture and normalizes philanthropy without reducing investor returns, because promote is paid from GP economics not LP returns.
- Ares' internal adoption spurred an Aries Charitable Foundation and motivated teams by linking deal success to charitable impact.