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8 Miles

PRI reporting framework 2020

You are in Direct – Private Equity » Pre-investment (selection)

Pre-investment (selection)

PE 05. Incorporating ESG issues when selecting investments

05.1. During due-diligence indicate if your organisation typically incorporates ESG issues when selecting private equity investments.

05.2. Describe your organisation`s approach to incorporating ESG issues in private equity investment selection.

1. Identification of value creation - incl. ESG aspects

2. Identification of negative screen - applicability

3. Use of in-house ESG resources to include ESG into value driver and initial investment framework 

4. Post - confirmation to proceed - engagement of a sector specific consultant on ESG.Due Diligence (Risks, Capacity, Systems, Processes, People)

5. Review of third party ESG Due Diligence - and incorporation into ESG Action Plans, Disclosure to the ESG Committee

6. Incorporation of ESG elements within draft and final Investment Committee Papers and SHA/SPA documentaiton. 

7. Direct engagement with C-Suite / Founders / Management on ESG culture and the ability to influence

8. Final SHA and SPA documentation including - . decisions over incorporation of ESG Committee's post investment, potential NED's to improve governance and corporate structures

9. Responsible Divestment where beneficial owners are scrutinised to meet KYC and broader intentions are discussed vis a vis continued adherence to responsible ESG practices

05.3. Additional information. [Optional]

PE 06. Types of ESG information considered in investment selection

06.1. Indicate what type of ESG information your organisation typically considers during your private equity investment selection process.

          Use of In-house resources (ESG Director)

06.2. Describe how this information is reported to, considered and documented by the Investment Committee or similar.

As with all other data, ESG is considered material and is incorporated at all stages of investment decision making. Specific reporting elements are required at initial and final investment decision making via standardised templates. 

PE 07. Encouraging improvements in investees

07.1. During deal structuring,what is the process for integrating ESG-related considerations into the deal documentation and/or the post-investment action plan?.

If yes

07.2. Describe the nature of these improvements and provide examples (if any) from the reporting year

The ESG Committee is provided with IC documentation, and is required to review the applicability of the PCAP/ESAPs along with the overall mandate for investment on ESG and Impact grounds. 

Condition precedents, subsequents and various SHA's conditions are included as our starting point with negotiations over thresholds and triggers for reporting the usual areas for negotiation. 


07.3. Additional information. [OPTIONAL]

PE 08. ESG issues impact in selection process

08.1. Indicate how ESG issues impacted your private equity investment selection processes during the reporting year.

08.2. Indicate how ESG issues impacted your private equity investment deals during the reporting year.

08.3. Additional information. [OPTIONAL]