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Access Capital Partners

PRI reporting framework 2020

Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Innovation [SG 18] Communication [SG 19]

Direct – Private Equity

Overview [PE 01 - 02] Fundraising of private equity funds [PE 03 - 04] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15] Communication [PE 16]

Direct - Infrastructure

Overview [INF 01 - 02] Fundraising of infrastructure funds [INF 03 - 04] Pre-Investment (Selection) [INF 05 - 09] Selection, appointment and monitoring of third-party infrastructure operators [INF 10] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Infrastructure Maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18] Communication [INF 19]

Confidence building measures

Confidence building measures [CM1 01 - 07]

Export Public Responses

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer	% of asset under management (AUM) in ranges
Fund management	0% <10% 10-50% >50%
Fund of funds, manager of managers, sub-advised products	0% <10% 10-50% >50%
Other	0% <10% 10-50% >50%	Please specify Co-investments funds in European buy-outs and Infrastructure
Total 100%

Further options (may be selected in addition to the above)

Hedge funds

Fund of hedge funds

01.2. Additional information. [Optional]

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Belgium

02.2. Indicate the number of countries in which you have offices (including your headquarters).

2-5

6-10

>10

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

82 FTE

02.4. Additional information. [Optional]

Access Capital Partners ("Access") comprises 82 professionals operating out of Paris, Brussels, London, Helsinki, Munich and Luxembourg. The main office is Paris.

Access has long-term experience servicing ESG sensitive investors.

Access started to formalize its responsible investment processes in 2007, driven by its conviction that sustainable growth cannot be achieved without considering the needs of customers, employees, shareholders, the environment and communities in which portfolio companies operate. ESG integration has also become increasingly important to Access’ investors, in particular for public pension funds.

In 2008, Access was one of the first private asset (fund of funds manager) signatories of the United-Supported Principles of responsible Investment (UNPRI).

Since then, the firm has implemented a robust ESG framework across the three asset classes it covers - small and mid-market buy-out, Infrastructure and Mezzanine & Private Debt – from the initial due diligence to the annual monitoring of ESG risks and opportunities once an investment has been made. A specific and distinct ESG framework has been developed for Access’ direct co-investment and indirect investment activities.

Today, the ESG integration process covers 12 funds of funds and co-investment funds and 5 dedicated mandates representing c.€6bn of assets under management.

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

Yes

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2

Total AUM
Total AUM	trillions	billions	millions	thousands	hundreds
Currency
Assets in USD
Assets in USD	trillions	billions	millions	thousands	hundreds

Not applicable as we are in the fund-raising process

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

Not applicable as we do not have any assets under execution and/or advisory approach

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

as percentage breakdown

as broad ranges

	Internally managed (%)	Externally managed (%)
Listed equity	0 0	0 0
Fixed income	0 0	0 0
Private equity	>50% 80	0 0
Property	0 0	0 0
Infrastructure	10-50% 20	0 0
Commodities	0 0	0 0
Hedge funds	0 0	0 0
Fund of hedge funds	0 0	0 0
Forestry	0 0	0 0
Farmland	0 0	0 0
Inclusive finance	0 0	0 0
Cash	0 0	0 0
Money market instruments	0 0	0 0
Other (1), specify	0 0	0 0
Other (2), specify	0 0	0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

Yes

06.5. Indicate whether your organisation uses fiduciary managers.

Yes, we use a fiduciary manager and our response to OO 5.1 is reflective of their management of our assets.

No, we do not use fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

Assets under management (“AUM”) of €10.7 billion are split 58:42 between co-mingled funds and separate accounts. Access’ products and services encompass smaller buy-out, infrastructure, and private debt. AUM are split:

European Smaller Buy-out: €7.9 billion
European Infrastructure: €2.2 billion
European Private Debt and Mezzanine: €0.6 billion

OO 07. Fixed income AUM breakdown (Not Applicable)

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

100 Developed Markets

0 Emerging Markets

0 Frontier Markets

0 Other Markets

Total 100% 100%

09.2. Additional information. [Optional]

Assets under management (“AUM”) of €10.7bn are split approximately 50:50 between co-mingled funds and separate accounts. Access’ products and services encompass smaller buy-out, infrastructure, and private debt, each focused on investing in the key economies of Western Europe. Access’ integrated expertise offers exposure to Private Equity & Infrastructure invetsment opportunity through funds of funds, direct funds and customised solutions. With offices in France, the United Kingdom, Belgium, Finland, Luxembourg and Germany, the firm has gained extensive knowledge and coverage of these market segments.

European Smaller Buy-out: €7.9 billion

Since 1999, Access has kept its core focus on the selection of smaller buy-out funds through primary commitments and secondary transactions for its fund of funds activity. Key value drivers remain pricing discipline, controlled levels of leverage, combined with organic and acquisitive growth. Access has stuck with these fundamental principles to generate a sustainable return model for its Investors.

Drawing on its longstanding relationships with the best performing fund managers, Access also offers co-investment opportunities in portfolio companies through separate vehicles managed by a dedicated team.

European Infrastructure: €2.2 billion

Access' approach to infrastructure investing includes a combination of direct investments and indirect investments through primary funds and secondary transactions in core infrastructure projects in Europe. By privileging brownfield strategies, Access' investors benefit from low volatility in returns with revenues generally correlated with inflation.

European Private Debt and Mezzanine: €0.6 billion

On this segment, Access provides debt capital through mezzanine financing and other subordinated debt instruments to European companies with enterprise value in the range of €50-€500m. In this strategy, Access aims at addressing opportunities that present a stable and attractive risk-adjusted return, yearly cash distributions and a high level of downside protection for the benefit of the clients.

Access invests in European Private Debt directly in companies and indirectly through primary fund commitments and secondary transactions.

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