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Phyllis Kurlander Costanza
Chief Social Investment Officer at Advanced Portfolio Management, LLC
About
Phyllis Kurlander Costanza is the Chief Social Investment Officer at Advanced Portfolio Management (APM) in New York, leading the firm's Social Investment Solutions division since September 2024. In this role, she is responsible for designing and managing investment strategies that integrate measurable social impact outcomes alongside financial returns, with a focus on innovative vehicles such as impact bonds and outcomes-based financing. Her work at APM centers on social finance within global development, public policy, education, and health sectors, directing capital toward projects that address critical societal challenges.
Previously, Phyllis was President and Co-Founder of OutcomesX, where she developed market infrastructure for trading social outcomes, and CEO of the UBS Optimus Foundation, where she launched pioneering projects like the first Development Impact Bond for global health and education. She led philanthropic investment programs and has extensive experience in outcomes-focused funding models, including working with major family offices, institutional investors, and governments to mobilize private capital for public good.
Phyllis earned her Master's Degree in Public Policy Administration (Development Economics & International Development) from Harvard Kennedy School and her Bachelor's Degree in Philosophy and Political Science from Miami University. She is globally recognized as an authority in social investment, outcomes-based funding, and policy-driven investing, with distinctive achievements in scaling impact investing as a mainstream strategy in sectors such as health, education, and sustainable development.
Career History
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Advanced Portfolio Management | Chief Social Investment Officer | Sep 2024 to Present | — |
| Advanced Portfolio Management, Social Investment Solutions | Chief Social Investment Officer | Jan 2024 to Present | Creating new division within APM focused on using AI to structure social data for investment purposes and grant making; Develop methodology/taxonomy for Social Factor Index and related funds; Creating... |
| OutcomesX | President and Co-Founder | Aug 2022 to May 2024 | OutcomesX is the first social outcomes marketplace where corporations, governments, and foundations can purchase social outcomes which are standardized, priced, verified and traded. |
| OutcomesX | President | Jan 2022 to Jan 2024 | Created first marketplace to standardize, price and sell social outcomes; Raised initial funding for start-up. |
| UBS | Global Head of Social Impact and CEO UBS Optimus Foundation | Jun 2011 to Aug 2022 | Head UBS' in-house foundation, UBS Optimus Foundation, which helps its clients support highly impactful programs designed to improve the lives of children. Have grown the foundation from approximately... |
| UBS AG | Managing Director | Jan 2011 to Jan 2022 | Zurich, Switzerland Global Head Social Impact (note: previously called UBS in Society) (from 2019) Chief Executive Officer, UBS Optimus Foundation (from 2011) Reporting to Group Executive Board (and p... |
| The Children’s Investment Fund Foundation (CIFF) | Executive Director | Jan 2007 to Jan 2011 | Zurich, Switzerland · As first employee and Board Member of CIFF, helped develop and guide strategic direction alongside founders of this $6B+ organization; · Established division designed to maximize... |
| The Children’s Investment Fund Foundation (CIFF) | Director | Jan 2002 to Jan 2007 | — |
| Children's Investment Fund Foundation (CIFF) | Executive Director | Jan 2003 to Jan 2011 | Developed Leverage Team—a new functional group designed to maximize and extend the impact of all CIFF investments (grants) by negotiating government policy, funding, and expansion support; Led executi... |
| The Lewin Group | Management Consultant | Jan 1997 to Jan 2002 | With Lewin Group and parent company, Quintiles Transnational, managed health care related client engagements on strategy development, business planning and market analysis. |
| The Lewin Group | Senior Managing Consultant | Jan 1997 to Jan 2000 | Washington, DC Managed staff and consulting projects related to increasing market potential and profitability and assessing policy and regulatory environment for health care industry. Representative ... |
| Gavin Anderson & Company (USAID) | Director, Research and Planning | Jan 1996 to Jan 1997 | Oversaw research department, including supervising staff, and development of all written and graphic materials aimed at educating Ukrainian media about mass privatization. |
| USAID/Gavin Anderson & Company | Director Research Planning | Jan 1996 to Jan 1997 | Kiev, Ukraine Oversaw research department and training program for Ukrainian PR professionals. |
| LBA Healthcare Consulting Services, LLC | Senior Consultant | Jan 1994 to Jan 1996 | Advised health care providers on reducing costs, improving efficiency and developing strategies for managed care; Consulted to 26 hospital clients, assisting with development of business plans, strate... |
| LBA Consulting | Senior Consultant | Jan 1994 to Jan 1996 | Denver, CO Promoted from Consultant to Senior Consultant after only three months. Advised health care providers on reducing costs, improving efficiency and developing strategies for managed care resu... |
| Geopartners Research and Consulting | Researcher | Jan 1992 to Jan 1994 | Cambridge, MA Worked part-time throughout graduate school constructing strategic mapping of health care and tech markets. |
| New York State, Office of Governor | Dep to Chief of Staff; Manhattan Regional Representative | Jan 1989 to Jan 1992 | Assisted Chief of Staff and Governor on public policy issues and special projects. Briefed, advised and made recommendations to Governor, Lt. Governor and Secretary of State regarding public policy in... |
| New York State | Assistant to the Chief of Staff | Jan 1989 to Jan 1992 | Albany, NY Assisted Chief of Staff and Governor on public policy issues and special projects. |
| Prudential Insurance Company of America | Associate Manager | Jan 1985 to Sep 1988 | New York, NY · Developed marketing strategy for corporate health insurance programs, and promoted to company’s most profitable office after achieving 250% of sales quota. |
| Prudential Financial | Associate Group Manager | Jan 1985 to Jan 1988 | Corporate health care |
| New York State | Ombudsperson | Jan 1985 to Jan 1988 | New York, NY Briefed, advised and made recommendations to Governor, Lt. Governor and Secretary of State regarding public policy in Manhattan. |
Education
Harvard University
Master's Degree, Public Policy Administration
1992 — 1994
Miami University
Bachelor's Degree, Philosophy
1981 — 1985
Harvard University Kennedy School of Government
Master of Public Policy, Development Economics and International Development
Miami University
Bachelor of Philosophy, Political Science and Government
Skills & Expertise
Others at Advanced Portfolio Management, LLC (6)
| Name | Role | Location |
|---|---|---|
 | Portfolio Manager | New York, NY , United States |
 | Portfolio Analyst | New York, NY , United States |
M Matthew Hansen | Principal | New York, NY , United States |
R Rahul Kakar | Chief Investment Officer | New York, NY , United States |
R Richard Fu | Investment Analyst | New York, NY , United States |
S Shashvat Shah | Quantitative Analyst | New York, NY , United States |
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