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Generation Investment Management LLP

PRI reporting framework 2020

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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]

Highlights from the PPM and accompanying ESG Questionnaire for our most recent Growth Equity fund include:

Policy & commitment

The mission of Generation is to deliver superior investment performance by taking a long-term view and integrating sustainability research within a rigorous framework of traditional financial analysis. Generation's investment approach is based on the idea that sustainability factors - economic, environmental, social and governance criteria - will drive a company's long-term returns. We seek to deliver attractive investment returns by integrating sustainability research with traditional financial analysis.

Pre-investment

The Fund's investment strategy will focus on private growth stage opportunities with broad sustainable solution themes. The Fund will invest across sectors including transportation, agriculture, energy, industrials and consumer.  Elements of the investment process, described in the PPM, for integrating sustainability factors include Roadmaps and Solutions Summits (that support sourcing of investment opportunities), consideration of sustainability factors in the evaluation of "Business Quality and Management Quality", a judgment on whether a company meets our Sustainability Threshold, and consideration by the Investment Committee whether a potential investment qualifies as a providing a sustainable solution.

Post-investment

We select what we believe are the key performance indicators, or KPIs, for each portfolio company. We engage deeply with portfolio companies on the select four to five areas that most align with business and management success. Where possible, we help the company take that next step on measurement and reporting, and support it to embed the most helpful metrics into its business management and practices.

Reporting

The data room for the most recent Growth Equity fund includes examples of impact reports for previous funds


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 investors.

If yes

04.2. Additional information. [OPTIONAL]

This is inherent within the objectives of the strategy and form a key part of clients' decisions to invest in it.


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