A core component of our mission is “actively promoting positive change” as a way of achieving “exceptional risk-adjusted returns over the long-term.”
As the investment world becomes increasingly focused on ESG, scores of asset managers are racing to demonstrate their compliance. Most of this comes in the form of “box-ticking” processes focused on negative screening, or avoiding companies engaging in certain activities.
We do not believe that ESG can be reduced to prescribed processes. It is either core to the mission, or it is not. Our approach is to engage in the investments we make, forming long term partnerships that allow us to affect change, taking proactive steps with clear results.
Examples for such engagements include:
Leading a £24 million rescue financing for a logistics company, saving over 3,000 jobs in England
Breaking up a “country club” board of directors at one of our portfolio companies and pushing for more aligned executive compensation
Leading a $50 million round of investment into a breakthrough solid state battery technology company which is expected to play a key role in unleashing the potential of electric vehicles
Successfully encouraging a $900 million external fund manager to adopt ESG principles as part of their investment process
Maintaining a strict “zero wage gap” policy and ensuring diversity at the board level of our wholly owned portfolio companies