14
Nov
ESG considerations: An LP view
As ESG engagement, implementation, and debate gathers momentum, LPs are increasingly scrutinising their investment decisions and factoring ESG into their allocations. This has significant implications for GPs as well as the LP–GP relationship. A panel of senior LPs discuss their views on how they evaluate GPS when it comes to ESG performance and the key challenges they face in monitoring and measuring that performance.
- Are LPs increasingly making go/no-go decisions based on ESG performance?
- What is the LP view on reporting and disclosure?
- What are LP expectations from their GPs when it comes to ESG, and how much does it vary from region to region?
- How should you overcome data challenges?
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SpeakersJie Gong Partner PANTHEON
Suzanne Tavill Global Head of Responsible Investment, Partner STEPSTONE
Saima Rehman Investment Officer, Private Equity Funds, East Asia Pacific IFC
Steven Okun Senior Advisor GLOBAL PRIVATE CAPITAL ASSOCIATION
Navjeewan Khosla Partner NOVO HOLDINGS
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Jie is a Partner in Pantheon’s Asia Investment Team. Jie is a member of the ESG Committee and Inclusion & Diversity Committee, and co-leads Pantheon’s ESG initiatives and industry engagement. Jie joined Pantheon from Morgan Stanley Alternative Investment Partners’ private equity fund of funds group, where she was head of Asia, and before that she worked at JP Morgan in leverage finance. Previously she worked at the International Finance Corporation on emerging market debt and equity investments. Jie received a Masters in Finance from London Business School, an MA in Economics from University of Miami and a BA in Economics and International Trade from Shanghai International Studies University. Jie is Vice Chairman of the Hong Kong Venture Capital and Private Equity Association (HKVCA) and serves on its board. She founded and chairs HKVCA’s ESG committee, and co-chairs its LP committee. She also served on the United Nations Principles for Responsible Investment Private Equity Advisory Committee (UNPRI PEAC) in 2017-2019 (maximum tenure).
Ms. Tavill is the global head of responsible investment, leading all ESG and impact initiatives across all businesses and investment strategies at StepStone Group, a global private markets investment firm focused on providing customized investment solutions and advisory and data services to some of the most sophisticated investors in the world. With more than US$548 billion of private markets allocations, including over US$127 billion of assets under management as of December 31, 2021, StepStone covers the spectrum of opportunities in private markets across the globe. Ms. Tavill is also a member of the private equity team.
Prior to StepStone, Ms. Tavill was responsible for AMP Capital’s global alternative investment platform that included private equity, infrastructure and real assets. Before that she spent five years at Van Eyk Research in Sydney, the last four as head of research. Before moving to Australia, she was an executive director at Goldman Sachs Investment Management, responsible for their UK small-and mid-cap portfolios.
Ms. Tavill received a MSc in finance and economics from the London School of Economics, in addition to a BBS with honors in economics and honors in finance from the University of Cape Town, South Africa.
Saima Rehman is responsible for leading investments in private equity and venture capital funds, and managing portfolio in the East Asia Pacific region. Before joining the Funds group, her experience covered principal investments, syndications and structured finance covering South Asia with IFC and prior to that with IDLC Bangladesh. She has an MBA from INSEAD.
Steve Okun has served as GPCA’s Southeast Asia Senior Advisor since 2017. Steve is Founder and CEO of Singapore-based APAC Advisors and is a seasoned private equity professional. Steve supports member relations and expanding GPCA’s industry stakeholder network in the region. He is also responsible for establishing GPCA’s Singapore and regional presence as well as training the local team. As KKR’s former Director of Asia Public Affairs, Steve also advises GPCA on public affairs and industry advocacy in Southeast Asia.
Nav joined Novo Holdings Asia in August 2021 as Principal. He focuses on deal sourcing and execution as well as in managing and developing the growing portfolio of investments, focusing primarily on the markets in China, India, and Southeast Asia.
Prior to joining Novo Holdings Asia, Nav was a Director in Quadria Capital, a mid-market private equity firm focusing on healthcare investments in India and South East Asia. Before joining Quadria Capital, Nav was the Managing Director at Fosun, where he worked on both private and public healthcare investment opportunities across the Asia-Pacific region. Nav started his investment career with Merrill Lynch in Hong Kong and moved to UBS Global Asset Management in Singapore before joining Fosun.
Nav holds an MBA from Indian Institute of Management (IIM), Ahmedabad, in India and Bachelor of Technology from Indian institute of Technology (IIT), Kharagpur in India.