Snehal Shah

Greg Shell, head of GSAM’s Horizon Inclusive Growth fund, sees a market ripe for both value growth and social impact in rural southern regions of the US.

The firm is linking 20% of its carried interest to impact KPIs; if these are not met, then unearned carry will be donated to a non-profit.

Apollo's Ooton sees LPs 'galvanise around' EDCI metrics, freeing up GP resources to focus on ESG improvements rather than questionnaires. And EDCI data shows early indications that PE-owned companies perform better on sustainability KPIs than public ones.

Article 9’s reporting obligations are ‘too burdensome’ for some private fund managers, say Stafford and Anthos.

Ambienta is in market with Sustainable Credit Opportunities, an Article 9 impact fund with a €500 million target.

Shell manages GSAM’s newly launched social impact fund, Horizon Inclusive Growth I.

The PRI has seen widespread uptake among private fund managers, including private debt giants such as Apollo, Ares and Oak Hill Advisors.

Middle Eastern institutions have been committing billions of dollars to climate funds: ALTÉRRA has committed $6bn to funds managed by TPG, BlackRock and Brookfield, while Investcorp's decarbonisation fund is anchored by Bahrain's Mumtalakat.

CalPERS has a $100bn allocation to climate solutions – and is looking at its existing investment partners for climate-related opportunities – while APG has a domestic Dutch programme for transitioning local businesses.

Private wealth, which occupies an increasingly large segment of private markets fundraising, is more inclined to prioritise impact over financial returns, say experts, particularly as the next generation takes over.