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The €1.45bn fund-level facility was arranged by Standard Chartered Bank.
UK pension partnership selected managers who ‘showed awareness’ of portfolio companies’ alignment to the Paris Agreement
The main investor concern was that companies may be able to reap the benefits of 'greenium'-style interest savings while avoiding meeting, or even testing, key performance indicators.
Amy Kennedy, a leveraged finance partner at law firm Akin Gump, describes the development of a market trend that ‘will only continue.'
The Northern European firm, an ESG early mover, has opted for an ESG-linked subscription credit line.
The firm provides credit options for small and medium-sized US businesses and earmarks some capital to be invested in diverse-owned companies.
European fund manager Capza will link loan costs and its own carried interest to ESG KPIs for its sixth private debt fund, says managing director Laurent Benard.
Climbing rope on white background.
The firm has added the facility, which has an interest margin linked to 'measurable performance indicators', to a $3.5bn co-investment fund.
Jaime Prieto, founding partner at the firm, says the growing appetite for private debt funds that meet ESG criteria is 'clearly noticeable'.
Editors from across the PEI stable jump on Zoom to swap thoughts on a growing trend in private markets: linking the cost of fund-level credit facilities to ESG performance.
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