1. Basic information
Feb 26, 2021
up to £20m
Dec 12, 2022
Dec 14, 2022
Dec 31, 2022
2. Investment criteria
1. How many assets under management worldwide in USD do you have (i.e. 500,000,000 = 500)? Which part is institutional?
2. What are the assets under management for this asset class/region and which part are institutional assets in millions of USD?
3. With which service providers like custody, fund services, brokerage, etc. do you work together?
4. Does your firm offer management of this asset class through a segregated account, a pooled account, or both?
5. Which product/strategy mirrors closest this request for proposal?
6. What is your investment management philosophy and process for this product/strategy?
7. What is the inception date of this product/strategy?
8. How many professionals are dedicated to the management for this asset class?
9. How many years are the responsible professionals on average with the firm?
10. For how many years are they on average in the industry?
11. How do you identify and manage material ESG-related risks in this strategy?
12. What are your ESG-related policies and how do ESG factors influence your investment beliefs?
13. What plans do you have, if any, to further develop the management of ESG factors?
14. Do you commit to any international standards, industry (association) guidelines, reporting frameworks, or initiatives that promote responsible investment practices?
15. Do you make formal commitments relating to ESG into the integration and ESG restrictions in fund formation contracts, Limited Partnership Agreements or inside letters when requested by investors?
16. Does the investment manager annual employee performance review or remuneration metrics reflect any component for the inclusion of ESG?
17. Who is directly responsible for setting the ESG incorporation strategy and framework for the fund/mandate inside?
18. What is your process and frequency of any formal review of responsible mandate inside investment policies and practices?
19. How do you identify and manage material ESG-related risks?
20. How do you define the materiality of ESG factors? Please give two or three examples of responsible ESG factors that you have identified as long-term material factors to investments in your most recent fund or mandate.
21. Describe your process for identifying and understanding: (i) potentially material ESG risks, including long-term risks and (ii) the time frame in which these come into play during due diligence. Please give an example of where you have identified ESG risks from your most recent fund or mandate.
22. Once identified, how might the identification of potentially material ESG risks impact the investment decision, for example validating the decision, reducing the amount invested or resulting in declining the investment? Please give an example from your most recent fund/previous role for new funds.
23. Describe your process of engagement with the (private) equity sponsor or co-lending parties on existing ESG integration processes. How do you ensure alignment in ESG strategy and negotiate commitments in transaction documentation?
24. How are ESG risks reported to, considered and documented by the ultimate decision-making body, such as the investment committee?
25. Describe your approach to (and process for) understanding and managing ESG risks (e.g. carbon footprint of the portfolio, borrower’s exposure to environmental or social regulatory risks, etc.). How do you leverage ESG-related insights and best practices between assets within a portfolio?
26. Does the investment manager assess the exposure of its fund(s) to climate risk, and measure and monitor the carbon footprint of its investment portfolio?
27. During deal structuring, what is your approach to (and process for) integrating ESG-related considerations into lending terms and/or on-going monitoring of a borrower?
28. Please describe how: (i) oversight responsibilities, and (ii) implementation responsibilities for ESG integration are structured within your transactions. Please list the persons involved and describe their position within the organization and how they are qualified for this role. Please also describe any external resources you may use.
29. Do you provide training, assistance and/or external resources to your deal team to help them understand and identify the relevance and importance of ESG factors in investment activities? If so, please describe what kind of training is provided.
30. What data do you capture on ESG performance? How do you define ESG performance targets?
31. Do you measure whether your approach to managing ESG considerations has affected the financial and/or ESG performance of your investments? If yes, please describe how you can determine these outcomes.
32. Do you exchange ESG insights with related stakeholders?
33. How can investors monitor and, where necessary, ensure that the fund or mandate is operating consistently with agreed-upon ESG-related policies and practices, including disclosure of ESG-related incidents?
34. Which channels do you use to communicate ESG-related information to investors? Can you provide samples of ESG-related disclosures from an earlier fund or mandate? If not, please indicate whether you would consider introducing ESG-related disclosures.
35. Describe your approach to disclosing and following up on material ESG incidents to your investors.
36. What is your benchmark against which you manage this product/strategy? If none, please state so.
37. Provide a short commentary to accompany your performance returns - for example, an explanation for periods of out-performance and/or under-performance, top and worst contributors etc..
38. Please specify and provide details of how your performance data has been put together like e.g. for a composite, carve-out, single portfolio, etc.,
39. Please give details to your standards for investment performance reporting including specific reference to the performance returns
40. What is your annualized performance return for this product/strategy since inception to the end of the most recent quarter? Please also add meaningful metrics like the benchmark figures, the annualized volatility, tracking error, Sharpe-, Sortino-, Treynor, and information ratios.
41. What is your 1-year annualized performance return for this product/strategy to the end of the most recent quarter? Please also add meaningful metrics like the benchmark figures, the annualized volatility, tracking error, Sharpe-, Sortino-, Treynor, and information ratios.
42. What is your 3-year annualized performance return for this product/strategy to the end of the most recent quarter? Please also add meaningful metrics like the benchmark figures, the annualized volatility, tracking error, Sharpe-, Sortino-, Treynor, and information ratios.
43. What is your 5-year annualized performance return for this product/strategy to the end of the most recent quarter? Please also add meaningful metrics like the benchmark figures, the annualized volatility, tracking error, Sharpe-, Sortino-, Treynor, and information ratios.
44. Please supply any additional information or comments.
45. If you wish to add a legal disclaimer please do so here.
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