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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
Clearlake Capital Partners VI (CCP)
CCP was required to answer ILPA's DDQ with additional ESG questions from LV. Initially the ESG implementation looked insufficient but by discussions and CCP's appointment of MALK as their ESG advisore LV felt that CCP was on the right track with regards to ESG implementation in the investment and managing process. LV also conducted interviews with other LP's who came to the same conclusion, i.e. that CCP was moving in the right direction with regards to ESG. As a precautionary measure, LV also inserted an ESG clause into LV's and CCP's side letter stating that LV is an UNPRI signatory and that CCP should adhere to the principles in the manner possible.
A decision to invest was agreed upon by the board of LV, based on the side-letter clause mentioned above.