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Bridges Fund Management

PRI reporting framework 2020

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Peering questions

OO LE 01. Breakdown of listed equity investments by passive and active strategies (Not Applicable)


OO LE 02. Reporting on strategies that are <10% of actively managed listed equities (Not Applicable)


OO FI 01. Breakdown of fixed income investments by passive and active strategies (Not Applicable)


OO FI 02. Reporting on strategies that are <10% of actively managed fixed income (Not Applicable)


OO FI 03. Fixed income breakdown by market and credit quality (Not Applicable)


OO SAM 01. Breakdown of externally managed investments by passive and active strategies (Not Applicable)


OO PE 01. Breakdown of private equity investments by strategy

PE 01.1. Provide a breakdown of your organisation’s internally managed private equity investments by investment strategy.

Investment strategy 

Percentage of your internally managed
private equity holdings (in terms of AUM)
Venture capital
Growth capital
(Leveraged) buy-out
Distressed/Turnaround/Special Situations
Secondaries
Other investment strategy, specify (1)
Other investment strategy, specify (2)
Total 100%

PE 01.2. Additional information. [Optional]

Launched in 2002 as a single-strategy fund, Bridges has since grown to become a multi-strategy platform of funds. Two of these strategies are private-equity focused (excluding our property fund which is covered in the next questions):

  • The Bridges Sustainable Growth Funds invest in growth companies that are helping to create a more inclusive and sustainable future. It's our conviction that these are the businesses best-placed to succeed over time. By helping them to achieve their potential, we can deliver attractive financial returns alongside measurable societal impact.
  • Bridges Evergreen Holdings is our specialist long-term capital vehicle. It is a flexible long-term investment partner for mission-driven businesses and social sector organisations looking to scale over time. Our financial, strategic and operational support helps them to grow faster and deliver greater impact.

OO PE 02. Typical level of ownership in private equity investments

PE 02.1. Indicate the level of ownership you typically hold in your private equity investments.

PE 02.2. Additional information. [Optional]

Bridges is an engaged investor and we support our management teams to achieve exceptional results. . 

  • We work with our teams to develop and agree a clear value creation strategy and then support them to drive growth at pace. This includes working with businesses early on to develop the foundations required for the next phase of growth - including developing key functions, team building, IT and systems or other areas as required.
  • We provide hands-on support to accelerate this process where needed. We recommend implementing a ‘Chief of Staff’ to accelerate growth and business building in the 6 months post-deal and have a network of specialists in a variety of areas from strategic planning and brand development through to IT and systems upgrades.
  • We have an outstanding reputation for building purpose-led, socially responsible businesses that use the positive impact they generate to enhance commercial performance. Key resources we deploy to measure and manage social and environmental impact include our internal Impact management team and the B Corp impact assessment framework. 

Prior to making an investment, our investment team works with the management team of the prospective portfolio company to identify ESG risks and opportunities for value creation. To guide this discussion, we have developed an in-house risk assessment screen based on global best practices but adapted to fit the needs of investees operating in our areas of thematic focus. Our emphasis is on making this ESG risk screen as practical as possible - on making it a conversation about operational excellence. We use a materiality lens to grade each risk as a high, medium or low priority and record the results on a risk register. For each material risk, we propose a mitigation plan in the Investment Committee paper, so that our investment decision is made with a holistic view of projected impact and a 100-day plan can be developed. Thereafter, ESG issues are reviewed regularly at Board meetings with investee companies, as well as at our own firm-level portfolio review meetings. Once a year, each investee provides a snapshot of any new or outstanding ESG issues, as well as progress against targets, through our Impact Scorecard.


OO PR 01. Breakdown of property investments

PR 01.1. Indicate the level of ownership you typically hold in your property investments.

PR 01.2. Provide a breakdown of your organisations allocation to Real Estate Investment Trusts (REITs) or similar

PR 01.3. Additional information. [Optional]


OO PR 02. Breakdown of property assets by management

PR 02.1. Provide a breakdown of your organisation’s property assets based on who manages the assets.

Property assets managed by

Breakdown of your property assets (by number)
Managed directly by your organisation
Managed via third-party property managers appointed by you
Managed by other investors or their property managers
Managed by tenant(s) with operational control
Total 100%

PR 02.2. Additional information. [Optional]

 

 

 


OO PR 03. Largest property types

PR 03.1. Indicate up to three of your largest property types by AUM.

Types

Main property types (by AUM)

Largest property type
Second largest property type
Third largest property type
          Healthcare
        

PR 03.2. Additional information.


OO INF 01. Breakdown of infrastructure investments (Not Applicable)


OO INF 02. Breakdown of infrastructure assets by management (Not Applicable)


OO INF 03. Largest infrastructure sectors (Not Applicable)


OO HF 01. Breakdown of hedge funds investments by strategies (Not Applicable)


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