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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]

The Fund and the Fund Manager each acknowledge that multiple Investors have formally committed to certain socially responsible investment principles such as the PRI (Principles for Responsible Investment) instituted by the United Nations (www.unpri.org). As such, and due to the Fund Manager’s own PRI membership, the Fund and the Fund Manager will generally:
(a) pay particular attention to respect of international law on human rights, and to the application of environmental, social, and governance (“ESG”) criteria to the management of its European private equity fund portfolios;
(b) integrate and formalize in its due diligence for each investment an analysis on the environmental, social (including health and safety, employees, human rights, consumer and community issues) and governance issues;
(c) avoid the fund from investing:
(i) in a Portfolio Company (whether directly or indirectly) that manufactures weapons and ammunitions as defined in the 25.4 NACE code of the EVCA sectoral classification http://www.evca.eu/uploadedFiles/sectoral_classification.pdf);
(ii) and more particularly, in a Portfolio Company that is involved in the production of anti-personnel landmines and cluster bombs, whereby such involvement shall cover entities whose activity is to produce or supply key components of these anti-personnel landmines or cluster bombs;
(iii) other criteria or segments that do not correspond with the Fund Manager’s ESG beliefs, including but not limited to: forced labour or child labour, pornography or prostitution and racist and anti-democratic media. A full list of excluded segments and activities can be found on the Fund Manager’s website (www.main.nl).
(d) use its reasonable best efforts to incorporate ESG criteria in the management of its Portfolio Companies, to the extent commercially reasonable and practicable and subject, in any event, to the investment objectives of the Fund and to the duty of the Fund Manager to endeavour to maximize the return on investment for all Investors;
(e) inform the Investors of any Portfolio Company whose management approach would be inconsistent with certain collective values that contribute to balanced economic, social and environmental development; and
(f) encourage the Portfolio Companies to integrate ESG considerations in their management for each investment.


PE 04. Formal commitments to RI (Private)


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