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PRI reporting framework 2017

You are in Direct – Private Equity » Fundraising of private equity funds

Fundraising of private equity funds

PE 05. Fund placement documents and RI

05.1. Indicate if your most recent fund placement documents (private placement memorandums (PPMs) or similar) refer to responsible investment aspects of your organisation.

05.2. Indicate how your fund placement documents (PPMs or similar) refer to the following responsible investment aspects of your organisation:

05.3. Describe how your organisation refers to responsible investment in fund placement documents (PPMs or similar). [Optional]

Policy and commitment to responsible investment

Many of Ardian’s PPMs refer to the necessity for teams to actively consider ESG matters throughout  the investment process, and ensures that economic returns are accompanied by a responsible investment and long-term decision-making approach.

Approach to ESG issues in pre-investment processes

For instance, the PPM of one of the funds clearly states that during preliminary screening the Project Team ensures that the prospect company should not operate in sectors which are deemed to be unethical, and that due diligence is discontinued in the case of companies operating in banned sectors.

Also, during due diligence, the Project Team includes ESG criteria in its due diligence efforts, and may decide to appoint external consultants to carry out additional environmental and/or social audits where necessary.

The investment memoranda contains an ESG performance rating and identifies potential ESG risks that directly affect the investment decision.

Approach to ESG issues in post-investment process

For instance, the PPM of one of the funds states that throughout the holding period, the Investment Team monitors companies' ESG criteria as part of normal supervision of corporate holdings, and that Ardian regularly mandates external consultants to perform an ESG review on all portfolio companies.

The analyses and recommendations produced by the review serve as a basis for the deployment of targeted ESG initiatives.

PE 06. Formal commitments to RI

06.1. Indicate whether your organisation makes formal commitments in fund formation contracts, Limited Partnership Agreements (LPAs) or in side letters relating to responsible investment when requested by clients.

06.2. Additional information.