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NiXEN Partners

PRI reporting framework 2018

You are in Direct – Private Equity » Overview


PE 01. Description of approach to RI

01.1. Provide a brief overview of your organisation’s approach to responsible investment in private equity.

NiXEN systematically integrates ESG into the execution of its investments:

- In the by-laws of the NiXEN II fund as well as in the NiXEN III fund by-laws project, we have undertaken to refrain from investing in companies the core business of which is engaged in: human cloning, genetically modified organisms, tobacco production, gambling industry, pornography and military weapons.

- A specific ESG Due Diligence is systematically performed among the other due diligences we carry out for each new investment and led by an external ESG expert;

- The results of each specific ESG due diligence are presented and discussed with the management team of the new investment. This enables us to build an initial ESG action plan that management can follow and that we shall address regularly;

- We also include a dedicated ESG section into the investment notes presented at the Investment Committee, highlighting the key points from the ESG due diligence and the identified action plan that will be used in our dealings with the management;

- We include a specific clause in the shareholders' agreements covering ESG subjects, the transmission of ESG-related information and the commitment to monitor these subjects within the Supervisory Boards;

- We include an ESG progress report in the agendas of Board meetings. The periodicity is at least once a year for our majority investments, and as appropriate for our minority investments;

- We produce an annual ESG Review base on a specific ESG questionnaire sent annually to our portfolio companies, including:
◊ more than 100 questions concerning all ESG issues;
◊ essentially quantitative metrics, but also open questions on the initiatives implemented by our portfolio companies on ESG issues

PE 02. Investment guidelines and RI

02.1. Indicate whether your organisation’s investment activities are guided by a responsible investment policy / follow responsible investment guidelines.

02.2. Describe how your organisation outlines expectations on staff and portfolio companies’ approach towards ESG issues in investment activities.

NiXEN has formalized its global ESG policy with a dedicated ESG charter in July 2013, that has been updated in 2015 and 2017 to reflect the latest improvements we made in intregrating ESG issues in our investment and monitoring processes. It applies to our NiXEN II fund as well as the successor funds.

As far as processes related to responsible investment are concerned, our ESG policy is defined by NiXEN's Managing Partner, Jean-Paul Bernardini, with the support of Pauline Stragier, Marketing and Communication Manager who centralizes and processes ESG-related information.

Moreover, as the whole NiXEN team has been regularly trained on ESG issues, all the investment team members contribute to the implementation of the ESG policy, especially to perform the specific ESG due diligence prior to any future investment and assist the management teams in the implementation of their ESG action plans (for majority investment).