Study finds ESG now core strategy at private equity firms

first_img“Issues such as climate change, sustainability, consumer protection, social responsibility and employee engagement are no longer viewed solely as components of risk management, but have also gained recognition in recent years as important drivers of firm value, particularly in the long term,” the study said.Pressures to put ESG policies in place were felt most acutely in Europe, the research showed, with the Middle East, Northern Africa and Latin America region feeling less pressure from investors and regulators.But even though ESG policies were being adopted more and more, there were still some big obstacles to these being implemented, the study showed.The most notable barrier was the difficulty in collecting the necessary data, it said. Also, some respondents cited the attitude of internal managers as a barrier to implementation.“It appears that, while ESG integration has become common, there remain pockets of internal managerial resistance to the whole idea of considering such issues as relevant for investment decisions,” the study said.,WebsitesWe are not responsible for the content of external sitesLink to research conducted by London Business School Institutional investors are increasingly demanding that private equity partnerships have environmental, social and governance (ESG) policies in their investment processes, and ESG has now become a core strategy for the private equity firms to create value, according to a new study.In the research, conducted by the London Business School’s Coller Institute of Private Equity and supported by private equity investor Adveq, 85% of larger private equity firms – managing assets in excess of $10bn (€8.2bn) – said pressure was growing to integrate ESG policies into everyday working practices.Ioannis Ioannou, assistant professor of strategy and entrepreneurship at the London Business School, said: “The private equity industry is increasingly placing greater importance to ESG, moving it from a purely compliance and risk mitigating strategy to a key long-term strategy through which private equity firms pursue value creation.”The study was based on responses from 42 private equity firms with collective assets under management of more than $640bn.last_img read more

Uncompetitive clearing market could trigger ‘unmanageable’ risks

first_imgLack of competition within the clearing market could expose pension funds to unmanageable risks and higher than necessary costs, according to PensionsEurope.The European industry group also argued that the European Market Infrastructure Regulation (EMIR), which currently offers the pensions sector a time-limited exemption from centrally clearing derivatives trades, should be amended to allow the exemption to continue indefinitely.Responding to a consultation by the European Securities and Markets Authority (ESMA) on recommended changes to the EMIR framework, PensionsEurope argued the regulation risked not achieving its goal of increasing financial stability, while leading to higher costs for the pensions sector if no further consideration was given to the use of cash as collateral.The industry group raised concerns about the number of clearing members in the market, arguing it was “not healthy and competitive”, damaging the ability of smaller pension funds to negotiate good deals. “Some [pension funds] experience difficulty finding clearing members that are willing to offer services on reasonable terms, or at all. This may force [pension funds] and other end users to accept unmanageable risks and higher cost levels.”The response noted the current pension fund exemption from clearing, set to expire in August 2017, should be extended until viable alternatives to posting cash as collateral were in place.It also said that as pension funds were usually fully invested, they would need to access the repo market or other methods of collateral transformation to post variation margins – but warned the markets may not be fully liquid at times of market stress, when the collateral would be most needed.“PensionsEurope’s calls on the Commission to maintain the exemption for [pension funds] from the central clearing obligation until a suitable clearing solution has been found,” the organisation said.It added: “The market has not yet developed a practicable and efficient process for central clearing of pension scheme’s over-the-counter (OTC) derivative transactions.“In addition to this, the existing exemption has not delivered a relief from mandatory clearing for three to six years as originally envisaged, as the clearing obligation is still not effective.”The industry group previously warned that clearing would divert funding away from long-term investments.Extending pension funds’ exemption to the EMIR regulation beyond 2017 would require amendments to existing legislation, something that would need ratifying by the European Parliament.,WebsitesWe are not responsible for the content of external sitesPensionsEurope response o ESMA consultationlast_img read more

Bowl season betting guide: Odds, lines, picks for Saturday’s college football games

first_imgCelebration BowlNorth Carolina A&T -2.5 vs. Alcorn State, O/U 51.5Florida A&M would have been the MEAC representative in this game if not for a postseason ban levied by the NCAA in the summer. Instead of seeing the Rattlers in the Celebration Bowl for the first time, we will see the North Carolina A&T Aggies making their fourth trip in five years, and they will be facing the Alcorn State Braves for the third time in that span.North Carolina A&T has had its way with the SWAC champion in the Celebration Bowl, winning all three of its previous appearances here. However, the Aggies are the weakest they have been in some time. They no longer have extremely gifted athletes like Lamar Raynard or Tarik Cohen, and the offensive line is not as strong without Brandon Parker holding down left tackle. The third time should be the charm for Alcorn State provided Felix Harper doesn’t turn the ball over, making the Braves a nice moneyline play.New Mexico BowlSan Diego State -3.5 vs. Central Michigan, O/U 40.5Buyer beware … this game is going to be tough to watch. The New Mexico Bowl has the lowest total of any game during bowl season, as San Diego State pairs the 127th ranked offense in the nation with the 11th best defense by SP+. Central Michigan is ranked outside the top 70 in both phases of the game by SP+, but there’s a good reason to like the Chippewas here.Aztecs’ head coach Rocky Long is 4-9 all-time in bowl games during his coaching career. Many of those losses weren’t against great teams, and San Diego State is 3-5 ATS under Long in bowl games.MORE: Picking all 40 bowl games in 2019-20Cure BowlGeorgia Southern -4 vs. Liberty, O/U 58.5Hugh Freeze has taken Liberty to a bowl game for the first time in school history, but the Flames played the softest schedule in the country to get to Orlando. Only their win against Buffalo looks good, as their other six victories came against two FCS schools, UMass, New Mexico, and New Mexico State (twice).The conventional wisdom is that triple option teams underachieve in bowl season considering opponents have time to prepare for the scheme, but that hasn’t played out. Since 2007, the true triple option teams (Army, Air Force, Navy, Georgia Southern, and Paul Johnson’s Georgia Tech) are 28-18 ATS.Boca Raton BowlSMU -3.5 vs. Florida Atlantic, O/U 68.5The Owls have the benefit of playing a home game on Saturday, but it’s hard to know how motivated Florida Atlantic will be for this game. Teams that are playing under an interim coach have a mixed track record in bowl season, and FAU played in the weakest conference in the FBS this season.We should see plenty of points since SMU is involved though. Sonny Dykes has built the Mustangs in his image, and the average SMU game has seen almost 75 points scored in 2019. Lane Kiffin may have left Boca Raton, but plenty of offensive minds remain and this game is the most likely shootout on the board.Camellia BowlArkansas State -2.5 vs. Florida International, O/U 60.5We have yet to see a blowout in the Camellia Bowl. The largest margin of victory in the history of this bowl was five points, and the five bowl games played thus far have a total MOV of 17 points. Accordingly, the college football betting line for this game is under a field goal, and this is the biggest toss-up on the board for Saturday.Las Vegas BowlWashington -3 vs. Boise State, O/U 49Chris Petersen will call it a career in Sin City on Saturday with a fitting final game. He will be facing the program he helped put on the map in Boise State, and there are sure to be emotions displayed on the sidelines and in the stands. This Saturday is the busiest day remaining for college football. The Division II Championship Game between West Florida and Minnesota State and the FCS Semifinals will be broadcast on the ESPN family of networks, but the games most people are jonesing for are the seven bowl games scheduled to take place throughout the day. This is one of the last days to lean back in your recliner and let the college football wash over you all day, so here’s a primer for those games.MORE: Get the latest NCAA odds & betting advice at Sports Insider The Huskies will be short-handed though with tight end Hunter Bryant declaring early for the NFL Draft and star left tackle Trey Adams sitting out his final collegiate game. Adams has kept Jacob Eason relatively untouched in the pocket, while Bryant has been his favorite receiver throughout 2019, leading to questions surrounding Washington’s offense.New Orleans BowlAppalachian State -17 vs. UAB, O/U 47.5When the opening bowl game betting odds were released two weeks ago, Appalachian State was the biggest favorite on the board. UAB looked lost in the Conference USA Championship Game against Florida Atlantic, and the Blazers sputtered over the second half of the season.Although Eli Drinkwitz left Appalachian State after one season to take the job at Missouri, the Mountaineers are still heavy favorites in this game. They have an elite defense that made App State one of the best Group of Five teams in the country, and Zac Thomas is a very good dual threat quarterback. App State has continually showed up in bowl games, winning four straight bowl games coming into the New Orleans Bowl, and their last two victories were by a combined 66 points.last_img read more

Apparently Daunte Culpepper wants a job in the NFL

first_imgApparently Daunte Culpepper wants a job in the NFL. According to ProFootballTalk, the veteran cites “unfinished business” as reason for wanting another shot.In fact, the site lists the Cardinals as a team that should at least consider giving Culpepper a tryout. Please.Unless, of course, the Cardinals are seeking a QB whose touchdown celebration is as good as his throwing arm (see :22 into the video). 0 Comments   Share   Top Stories D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Nevada officials reach out to D-backs on potential relocation What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right awaylast_img read more