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Akina Limited

PRI reporting framework 2017

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 11. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 12. Examples of ESG issues in selection, appointment and monitoring processes

12.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Best practice guidelines on legal terms and conditions
        
Conducted by
Asset class
Scope and process

During the legal due diligence process significant deviations from market standards were identified by the Akina team. Despite the attractiveness of the investment opportunity the Akina team decided to put the investment process on hold until an agreement with the manager was found to incorporate best practice legal terms and conditions which were in line with the Akina requirements.

Outcomes

Changed legal terms in a way acceptable by Akina and continued the investment process followed by a closing of the investment.

Topic or issue
          Fund restructuring
        
Conducted by
Asset class
Scope and process

In order to secure the the team viability of a small fund the GP had to restructure the partnership and transfer the assets into a new structure where new investors participated at different terms than the initial LP's. The arised conflict of interest required a approval by the Advisory Board of the fund.

Outcomes

Akina managed vehicles execrcied their right to vote as an Advisory Board member.

12.2. Additional information.


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