Terra Firma scoops double win in BVCA Responsible Investment Awards
Private equity house Terra Firma has picked up two prizes for responsible investment from the British Private Equity & Venture Capital Association (BVCA), alongside Palatine Private Equity and Northedge Capital.
Now in its fourth year, the BVCA Responsible Investment Awards, sponsored by Environ with Responsible Investor as media partner, are Europe’s only awards which recognise and celebrate outstanding Environmental, Social and Corporate Governance (ESG) practices within the private equity and venture capital community.
Entrants were divided into two groups: those with more than £1bn under management and those with less than £1bn. There are also two categories: one for ESG engagement with portfolio companies and another for an ESG framework in place at private equity firm level.
The winners of the BVCA Responsible Investment Awards 2014:
Firms with more than £1bn under management
Winner: Terra Firma
Category: Demonstration of active portfolio ESG engagement
Category: Demonstration of an ESG framework at firm level
The judges felt this was a great example of a firm on a determined journey. The judges commended the really good intention seen throughout the submission, appreciating how the firm acknowledged what it still needed to do. They provided some really good case studies that showed what they contribute to managing ESG risks and opportunities with portfolio companies. They were by the far the best out of the more than £1 billion category for both categories.
Firms with less than £1bn under management
Winner: Palatine Private Equity
Category: Demonstration of active portfolio ESG engagement
Their ESG practices are fully engrained and embedded into everything that Palatine is doing. They were by far the stand out candidate across all entries despite their size. Particularly impressive was how they have taken note from last year of what they could have done better and they have improved on these factors. It is outstanding to see this evolution. They are a shining example to the rest of the industry.
Winner: Northedge Capital
Category: Demonstration of an ESG framework at firm level
For a very new business the judges were very impressed that Northedge have taken so much time and put so much thought into their ESG practices so early. Northedge clearly deserve the award for their framework as it is outstanding how quickly they have progressed and how much effort they have put into their approach to ESG despite the age and size of their firm.
The BVCA Responsible Investment Awards were judged by an independent panel of institutional investors comprised of David Williamson, European Bank for Reconstruction and Development, Dushy Sivanithy, Pantheon Ventures, Patricia Hamzahee, member of the BVCA Responsible Investment Advisory Group, and Daniel Brooksbank, Editor of Responsible Investor. The winners were announced at the BVCA Summit in London on 9 October.
Jeremy Lytle, Investor Relations Partner, ECI, and Chairman of the BVCA's Responsible Investment Committee, said:
“Responsible investment has evolved significantly in recent years to the point now where it is a firmly established part of the private equity approach. These awards are designed to showcase the best of the best and this year’s winners are exactly that, each of them demonstrating the extent to which ESG now increasingly frames how our industry operates. What was particularly interesting this year was the quality and quantity of submissions that came from the smaller firms, a striking testament to how responsible investment is becoming entrenched at all levels of the private equity community.”The BVCA Responsible Investment Awards were judged by an independent panel of institutional investors comprised of David Williamson, European Bank for Reconstruction and Development, Dushy Sivanithy, Pantheon Ventures, Patricia Hamzahee, member of the BVCA Responsible Investment Advisory Group, and Daniel Brooksbank, Editor of Responsible Investor. The winners were announced at the BVCA Summit in London on 9 October.
Jeremy Lytle, Investor Relations Partner, ECI, and Chairman of the BVCA's Responsible Investment Committee, said:
“Responsible investment has evolved significantly in recent years to the point now where it is a firmly established part of the private equity approach. These awards are designed to showcase the best of the best and this year’s winners are exactly that, each of them demonstrating the extent to which ESG now increasingly frames how our industry operates. What was particularly interesting this year was the quality and quantity of submissions that came from the smaller firms, a striking testament to how responsible investment is becoming entrenched at all levels of the private equity community.”
Notes to editor
- The British Private Equity and Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 500 member firms, representing the vast majority of UK-based private equity and venture capital firms and their advisers.
- More information about the BVCA Responsible Investment Awards can be found here.
