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Even amid a political backlash against ESG, 'the zeitgeist of society' compels investors to worry about more than just the rate of return, says Carlyle's co-founder and co-chairman in a video interview at NEXUS 2024.
The GP stakes investor is looking to improve its managers sustainability standards regardless of their starting point, according to deputy CEO and COO Renaud Tourmente.
(L-R) Charles Avery, New Private Markets; Philip Reeves, Apis & Heritage Capital; Delilah Rothenberg, The Predistribution Initiative
New structures and legislative tailwinds will help private market firms see the value in employee ownership, said panellists at Impact Investor Summit: North America.
Institutional investors are increasingly mindful of inequality as a systemic risk; the question is whether they are willing and able to do anything about it.
Brian Kernohan, Manulife Investment Management
The head of sustainability for Manulife's $74bn private markets division believes the industry needs to do more to address inequality, rather than 'fuel it with with the investing decisions that we make'.
Greg Shell, Goldman Sachs Asset Management
Greg Shell, head of the inclusive growth strategy at Goldman Sachs AM, argues that social impact can deliver ‘premium investment returns’.
The impact manager has received backing from the likes of Big Society Capital and Greater Manchester Combined Authority to address social inequality in the UK.
As private markets initiatives related to specific social issues such as diversity and employee-ownership mature, inequality more generally could become a priority for private fund managers and investors.
The industrial association wants all of its GP members to have profit sharing schemes in place by 2030.
Despite their relatively small size, in-state and local impact allocations will require more oversight and draw more scrutiny than investors’ main private investment buckets.

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