Since 2012, Private Advisors has worked to educate fund managers on the importance of ESG considerations by requesting that each of its underlying managers recognize ESG through legal side letters .
In 2012, Private Advisors implemented the systemic inclusion of Operational Due Diligence ("ODD") as part of its primary fund investment process. ODD was established by the Hedge Fund team in 2009.
Private Advisors became a signatory to the UN PRI in 2014.
In 2015, Private Advisors introduced the programmatic use of an ESG Scorecard with up to 35 different criteria to evaluate value drivers and identify risks. Private Advisors believes the development and implementation of its ESG Scorecard is important differeniator in its due diligence process and is an early leader among its peers.
In 2018, Private Advisors became part of an internal working group to assist other New York Life Investment boutiques in the adoption of ESG considerations as part of their investment process. Two of these boutiques became signatories to the PRI in 2019 and are utilizing the Private Advisors framework to implement their ESG programs.