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Portobello Capital

PRI reporting framework 2018

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

Fundraising of private equity funds

PE 03. Fund placement documents and RI

03.1. Indicate if your most recent fund placement documents (private placement memorandums (PPM) or similar) refer to responsible investment.

03.2. Indicate how your most recent fund placement documents (PPM or similar) refer to the following responsible investment:

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

Portobello Capital's PPM refers to:

Pre- investment processes:

It confirms that financial, legal, employment, tax, commercial, strategic, technical, environmental and management due diligences will be conducted as part of the investment decision process (depending on nature of the business).

Post-investment processes:

Monitoring processes post-acquisition put in place by the Managing Company which include compliance and good governance. It is also explained in the PPM how Portobello Capital assesses the portfolio companies' management and what needs adding to the incumbent management and sets international standard business and governance principles.

Environmental, Social and Corporate Governance:

It confirms that Portobello Capital is fully committed to ESG policies and has a rigorous compliance structure which oversees the procedures and control systems in place, ensuring alignment with responsible investment standards and policies. It additionally explains (in detail) that Portobello enforces social policies, environmental policies, anti-money laundering, internal code of conduct, personal information protection and ESG reporting.

In addition to these references included in the PPM, Portobello Capital has provided several of its investors, upon request, with extensive questionnaires explaining the Company's approach to ESG issues before and after investment processes as well as with previously issued CSR reports and has signed side letters with several investors who had included ESG provisions.

 


PE 04. Formal commitments to RI

04.1. Indicate whether your organisation made formal commitments to responsible investment in the, Limited Partnership Agreement (LPA) of your most recent fund(s), or through side letters when requested by clients.

If yes

04.2. Additional information.

Although our responsible investment commitments are not included in the LPAs, they are included in the PPM, LPs' DD papers during fundraising process and in many Side Letters. Of course, we are willing to make a formal commitment when requested by our investors.

Some of the items included in the side letters are: investment restrictions, ESG reporting deadlines, commitment to provide additional information on our ESG practices if requested by the investor, etc.

Also, we publicly commit to applying a responsible investment approach on our investments as it is shown in our website and we provide our investors with an annual specific report which allows them to make sure that we comply with our commitment to bring responsible investment into our portfolio companies.


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