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PRI reporting framework 2020

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


SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process


We require that a private equity fund manager stays in dialogue on ESG integration with us.

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class


          For each manager we calculate an ESG score using a proprietary methodology. The manager's score is then compared with other managers in our ESG program.

ESG Objectives

          We ask PE fund managers to comply with Robeco's Exclusion Policy.
          We ask PE fund managers to incorporate ESG factors in their investment process.
          We ask and encourage PE managers to engage with their portfolio companies on ESG improvements and engage with us on ESG integration and specific ESG topics.
          We encourage PE managers to sign up to the UN PRI.

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

          If a PE manager does not comply and is not willing to improve we may consider selling the fund on the secondary market.

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          In the appointment process Robeco Private Equity strives to get the following clauses to be included in the side letters to the Limited Partnership Agreements:
- restricted activities (in line with the Robeco Exclusion Policy)  
- integration of ESG factors in the investment process by the PE managers  
- reporting on ESG activities and performance on an annual basis.
- reporting on ESG incidents in portfolio companies  
More specifically, in the side letters we ask PE managers to incorporate Robeco’s investment restrictions, to implement ESG criteria in their investment process, encourage their portfolio companies to adhere to ESG standards and principles (notably the UN Global Compact Principles) and to report to us on their ESG activities annually on the basis of a format provided by us.