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FSN Capital Partners

PRI reporting framework 2019

You are in Direct – Private Equity » Pre-investment (selection)

Pre-investment (selection)

PE 05. Incorporating ESG issues when selecting investments

05.1. During due-diligence indicate if your organisation typically incorporates ESG issues when selecting private equity investments.

05.2. Describe your organisation's approach to incorporating ESG issues in private equity investment selection.

Identification
 Screening against  ethical exclusion criteria. 
 Assessment against ethos
Evaluation
 Risk assessment  - including ESG factors.+ Assesment of opportuinities
 External risk assessment of potentially material ESG risks when relevant. DD findings always included in the investment decision meetings
Targeting
 Detailed due dilligence process, including external in-depth investigation of ESG factors when relevant. Always anti-corruption and background check of key management
Onboarding
 Action plan to manage, mitigate and control identified ESG risks.
 Action plan to seize identified ESG transformation opportunities.
 Implementation of governance structures, code of conduct, whistleblower mechanisms and other relevant policies
 

05.3. Additional information. [Optional]


PE 06. Types of ESG information considered in investment selection

06.1. Indicate what type of ESG information your organisation typically considers during your private equity investment selection process.

          Checking against general screening lists
        

06.2. Describe how this information is reported to, considered and documented by the Investment Committee or similar.

At the final stage of FSNC’s internal due diligence process, the deal team presents the investment opportunity in a formal investment memorandum,  which collates all the information and results of the due diligence process pertaining to the deal, including findings from the integrity checks / ESG DD.

The memorandum is presented by the deal team first to the entire Investment Advisory Team and the Executive Advisors. This is then followed by a separate meeting attended by the Investment Committee.

The Investment Committee will then decide on whether or not formally to propose and recommend a binding investment to the board of the general partner of the relevant FSNC Fund.


PE 07. Encouraging improvements in investees (Private)


PE 08. ESG issues impact in selection process (Private)


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