Patriot Capital, a multi-strategy middle market investment firm, announced today that the firm has become a signatory to the UN’s Principles for Responsible Investment (PRI). Implemented by the United Nations Secretary-General, the PRI were developed by an international group of institutional investors reflecting the increasing relevance of Environmental, Social, and Corporate Governance (ESG) issues to investment practices.
“We’re proud to become a signatory to the PRI. While ESG investing has recently grown in popularity, Patriot has been operating with an implicit responsible investing lens for over 20 years,” said Charles McCusker, managing partner at Patriot Capital.
“The pandemic and the related events of the past year compelled us to take formal action and become advocates for change in the investment industry. As a firm, we’re approaching $1 billion of invested capital and we know that we can be active change agents and advocates in the investment industry,” said Jon Cope, principal at Patriot Capital.
As part of Patriot Capital’s commitment to the PRI, the firm will adhere to its stringent principles and commit to:
- Incorporate ESG issues into investment analysis and decision-making processes;
- Be an active owner 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 PRI principles within the investment industry;
- Work with the PRI Secretariat and other signatories to enhance their effectiveness in implementing the principles; and
- Report on our activities and progress towards implementing the PRI principles.
“Our Responsible Investing framework guides our entire investment lifecycle – from initial deal sourcing and screening, through due diligence, and during the life of a portfolio company investment,” added Stacey Wittelsberger, principal at Patriot Capital. “Our framework centers around three pillars of Culture, Compliance, and Community, and we have already started to dialogue with our portfolio companies on how we can have a lasting impact on these important issues.”