Exclusion requirements (focusing on particular sectors and business activities) have been developed and included in the fund documentation for PDM's most recent direct lending fund (PCS4) and the CLO management funds (Providus 1, 2, and 3). These exclusion requirements consider investor sensitivities and strategic sustainability concerns. Potential investments are considered on a case-by-case basis as part of the pre-investment due diligence process. There may also be instances where PDM would not invest in certain sectors/sub-sectors due to ESG-related concerns and sensitivities beyond the defined exclusion requirements.
It is the responsibility of the investment professionals, with oversight from the Investment Committee, to ensure that exclusion criteria are not breached.