Impact investing is an important theme in the financial industry because it seeks to achieve both financial returns and positive social and environmental impacts. The purpose of this study is to investigate the decision-making processes of impact investing firms in Europe and Brazil, focusing on asset allocation and the complexities of achieving dual returns. The study was based on multitask contract theory and followed a qualitative methodology, including interviews with key personnel from impact investing firms. Organizations can use these findings to improve decision-making, enhance business operations, and manage risks effectively.