GroveStreet Policy Statement
The Principles for Responsible Investment
GroveStreet is a signatory to the Principles for Responsible Investment (PRI) in recognition that material environmental, social and governance (ESG) factors may impact the performance of long-term investments within the venture capital and buyout industries. Consistent with our fiduciary obligations to act in the best long-term interest of our investors, the PRI offers a framework through which to assess and continually improve our attention to these factors for all assets under management recognizing the distinct objectives and preferences of each of our investors.
The PRI were developed by the investment community in 2005, under the auspices of the United Nations. In becoming a signatory in 2021, where consistent with our fiduciary responsibilities and our agreements with our investors, we agree to:
- Incorporate ESG issues into investment analysis and decision-making processes.
- Be active owners and incorporate ESG issues into our ownership policies and practices.
- Seek appropriate disclosure on ESG issues by the entities in which we invest.
- Promote acceptance and implementation of the Principles within the investment industry.
- Work together to enhance our effectiveness in implementing the Principles.
- Report on our activities and progress towards implementing the Principles.
The GroveStreet PRI Committee is charged with overseeing our PRI efforts. The committee includes a Managing Partner and other members of the Investment and Finance Team.
Our Investment Team incorporates ESG factors into our due diligence and monitoring processes, focusing on issues that may have a material positive or negative impact on the performance of investments. Examples include a fund’s or portfolio company’s governance practices, the quality and transparency of the operations of the fund or portfolio company, and the impacts of the fund’s investments. We develop objectives and report on progress toward achieving these objectives in a manner that is customized to any preferences an investor requests. Finally, GroveStreet was founded around the principles of alignment of interest and transparency between ourselves and a small base of institutional investors, and we believe that the PRI are consistent with and support these founding principles.