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Pathway Capital Management, LP

PRI reporting framework 2019

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

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. 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
          Social
        
Conducted by
Asset class
Scope and process

Pathway seeks to understand the general partner's operational capabilities, transparency, and sustainability; the governance practices of a fund or portfolio company; and the industry focus and geographic operation, as well as other social or environmental impacts of a fund's investments. If a material ESG issue arises, it is presented to the Investment Committee to determine further action.

In this particular case, an existing general partner approached Pathway to invest alongside the general partner in an online payment platform. A majority of its revenue is generated from online gambling/betting. Given its material exposure to the online gambling/betting market, the co-investment team passed this information along to compliance to research if this could be a material issue. With the information collected from the general partner, the UNPRI, and other resources, Pathway ultimately proceeded with the opportunity. 

Outcomes

Pathway works to address all the issues or concerns revealed during its due diligence and also works to set appropriate governance measures, such as fee and remuneration structures, investor protections, and diversification guidelines. 

Pathway proceeded with the co-investment opportunity discussed above due to the reserach conducted surrounding the type of co-investment being presented. 

 

09.2. Additional information.


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