PRIVATE TRANSPARENCY REPORT
2023
T Capital Partners Co., Ltd.
Generated 15-12-2023

About this report
PRI reporting is the largest global reporting project on responsible investment. It was developed with investors, for investors.
PRI signatories are required to report publicly on their responsible investment activities each year. In turn, they receive a number of
outputs, including a public and private Transparency Report.
The private Transparency Reports, which are produced using signatories’ reported information, support signatories to have internal
discussions about their practices. Signatories can also choose to make these available to clients, beneficiaries, and other stakeholders.
This private Transparency Report is an export of your responses to the PRI Reporting Framework during the 2023 reporting period. It
includes all responses (public and private) to core and plus indicators.
In response to signatory feedback, the PRI has not summarised your responses – the information in this document is presented exactly
as it was reported.
For each of the indicators in this document, all options that you selected are presented, including links and qualitative responses. In
some indicators, all applicable options are included for additional context.

Disclaimers
Responsible investment definitions
Within the PRI Reporting Framework Glossary, we provide definitions for key terms to guide reporting on responsible investment
practices in the Reporting Framework. These definitions may differ from those used or proposed by other authorities and regulatory
bodies due to evolving industry perspectives and changing legislative landscapes. Users of this report should be aware of thesevariations, as they may impact interpretations of the information provided.

Data accuracy
This document presents information reported directly by signatories in the 2023 reporting cycle. This information has not been auditedby the PRI or any other party acting on its behalf. While this information is believed to be reliable, no representations or warranties are
made as to the accuracy of the information presented.
The PRI has taken reasonable action to ensure that data submitted by signatories in the reporting tool is reflected in their official PRI
reports accurately. However, it is possible that small data inaccuracies and/or gaps remain, and the PRI shall not be responsible or
liable for such inaccuracies and gaps.

2

Table of Contents
ModulePage

SENIOR LEADERSHIP STATEMENT (SLS)

4

ORGANISATIONAL OVERVIEW (OO)

5

POLICY, GOVERNANCE AND STRATEGY (PGS)13

PRIVATE EQUITY (PE)35

CONFIDENCE-BUILDING MEASURES (CBM)43

3

SENIOR LEADERSHIP STATEMENT (SLS)SENIOR LEADERSHIP STATEMENTSENIOR LEADERSHIP STATEMENT
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

SLS 1

CORE

N/A

N/A

PUBLIC

Senior LeadershipStatement

GENERAL

Section 1. Our commitment■ Why does your organisation engage in responsible investment?
■ What is your organisation's overall approach to responsible investment, and what major responsible investmentcommitment(s) have you made?
Trust is of the most importance to us, and we believe that fulfilling our social responsibility toward the realization of a sustainable society
through the lasting prosperity of the companies in which we invest will help us to secure and spread trust as an investment company.
As a private equity fund manager, we also owe a fiduciary duty to our investors. We intend to fulfill our social responsibility while making
investments that earn the trust of our investors.

Section 2. Annual overview■ Discuss your organisation’s progress during the reporting year on the responsible investment issue you consider most
relevant or material to your organisation or its assets.
■ Reflect on your performance with respect to your organisation’s responsible investment objectives and targets during thereporting year. Details might include, for example, outlining your single most important achievement or describing your generalprogress on topics such as the following (where applicable):• refinement of ESG analysis and incorporation• stewardship activities with investees and/or with policymakers• collaborative engagements• attainment of responsible investment certifications and/or awards
In FY2022, COVID-19 still had a significant impact on our portfolio companies in Japan. We recognize that COVID-19 increased theimportance of environmental, social, and governance issues for our portfolio companies. It challenged the importance of humanstewardship of the global environment and the importance of social and governance practices that enable us to survive together in achallenging environment. In this environment, we have been working to strengthen the ESG of our portfolio companies by improving theworking environment for employees, reinforcing governance by reinforcing management personnel and introducing an executive officer
system, working on BCPs, reducing waste, strengthening recycling, and engaging in volunteer activities. We recognize thatstrengthening ESG is essential for corporate growth and that these efforts will contribute to sustainability and to investors.

Section 3. Next steps■ What specific steps has your organisation outlined to advance your commitment to responsible investment in the next two
years?

4

He increased his participation in seminars on ESG to gather information, and participated in the ESG Committee's data disclosure at theJapanese PE Association.

Section 4. Endorsement'The Senior Leadership Statement has been prepared and/or reviewed by the undersigned and reflects ourorganisation-wide commitment and approach to responsible investment'.
Name
Koji Sasaki

Position
President and Managing Partner

Organisation’s Name
T Capital Partners Co., Ltd.

◉A'This endorsement applies only to the Senior Leadership Statement and should not be considered an endorsement of
the information reported by the above-mentioned organisation in the various modules of the Reporting Framework.
The Senior Leadership Statement serves as a general overview of the above-mentioned organisation's responsible
investment approach. The Senior Leadership Statement does not constitute advice and should not be relied upon as
such. Further, it is not a substitute for the skill, judgement and experience of any third parties, their management,
employees, advisors and/or clients when making investment and other business decisions'.
○ B

ORGANISATIONAL OVERVIEW (OO)
ORGANISATIONAL INFORMATIONREPORTING YEAR
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 1

CORE

N/A

N/A

PUBLIC

Reporting year

GENERAL

What is the year-end date of the 12-month period you have chosen to report for PRI reporting purposes?

Year-end date of the 12-month
period for PRI reporting purposes:

Date

Month

Year

31

12

2022

5

SUBSIDIARY INFORMATION
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 2

CORE

N/A

OO 2.1

PUBLIC

Subsidiary
information

GENERAL

Does your organisation have subsidiaries?
○ (A) Yes
◉ (B) NoASSETS UNDER MANAGEMENTALL ASSET CLASSES
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 4

CORE

OO 3

N/A

PUBLICAll asset classes

GENERAL

What are your total assets under management (AUM) at the end of the reporting year, as indicated in [OO 1]?
USD(A) AUM of your organisation,
including subsidiaries, andexcluding the AUM subject toexecution, advisory, custody, or
research advisory only

US$ 1,001,296,645.00(B) AUM of subsidiaries that are
PRI signatories in their own rightand excluded from thissubmission, as indicated in [OO
2.2]

US$ 0.00(C) AUM subject to execution,
advisory, custody, or researchadvisory only

US$ 0.00

6

ASSET BREAKDOWN
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 5

CORE

OO 3

Multiple
indicators

PUBLICAsset
breakdown

GENERAL

Provide a percentage breakdown of your total AUM at the end of the reporting year as indicated in [OO 1].
(1) Percentage of Internally managed AUM(2) Percentage of Externally managed AUM(A) Listed equity

0%0%(B) Fixed income

0%0%(C) Private equity

100%

0%

(D) Real estate0%0%(E) Infrastructure0%0%(F) Hedge funds

0%0%(G) Forestry0%0%(H) Farmland

0%0%(I) Other0%0%(J) Off-balance sheet

0%

0%

7

ASSET BREAKDOWN: INTERNALLY MANAGED PRIVATE EQUITY
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 5.3 PE

CORE

OO 5

N/A

PUBLIC

Asset breakdown:Internally managed
private equity

GENERAL

Provide a further breakdown of your internally managed private equity AUM.
(A) Venture capital

0%(B) Growth capital0%(C) (Leveraged) buy-out

100%(D) Distressed, turnaround or
special situations

0%(E) Secondaries

0%(F) Other

0%

GEOGRAPHICAL BREAKDOWN
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 7

CORE

Multiple, seeguidance

N/A

PUBLIC

Geographicalbreakdown

GENERAL

How much of your AUM in each asset class is invested in emerging markets and developing economies?
AUM in Emerging Markets and Developing Economies(F) Private equity(1) 0%

8

STEWARDSHIPSTEWARDSHIP
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 8

CORE

Multiple, seeguidance

Multiple
indicators

PUBLIC

Stewardship

GENERAL

Does your organisation conduct stewardship activities, excluding (proxy) voting, for any of your assets?
(5) Private equity(A) Yes, through internal staff☑

(B) Yes, through service providers☐(C) Yes, through externalmanagers☐(D) We do not conduct
stewardship○

ESG INCORPORATIONINTERNALLY MANAGED ASSETS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 11

CORE

Multiple, seeguidance

Multiple
indicators

PUBLICInternallymanaged assets

1

For each internally managed asset class, does your organisation incorporate ESG factors into your investment
decisions?

9(1) Yes, we incorporate ESG factors into ourinvestment decisions(2) No, we do not incorporate ESG factors
into our investment decisions◉○(I) Private equity

ESG/SUSTAINABILITY FUNDS AND PRODUCTSLABELLING AND MARKETING
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 18

CORE

OO 11–14

OO 18.1

PUBLIC

Labelling andmarketing1

Do you explicitly market any of your products and/or funds as ESG and/or sustainable?
○ (A) Yes, we market products and/or funds as ESG and/or sustainable◉ (B) No, we do not offer products or funds explicitly marketed as ESG and/or sustainable○ (C) Not applicable; we do not offer products or funds

SUMMARY OF REPORTING REQUIREMENTS
SUMMARY OF REPORTING REQUIREMENTS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 21

CORE

Multiple
indicators

Multiple
indicators

PUBLIC

Summary ofreportingrequirements

GENERAL

The following table shows which modules are mandatory or voluntary to report on in the separate PRI asset classmodules. Where a module is voluntary, indicate if you wish to report on it.

10(1) Mandatory to report(pre-filled based on
previous responses)(2.1) Voluntary to report.
Yes, I want to opt-in toreporting on the module(2.2) Voluntary to report.
No, I want to opt-out ofreporting on the module

Policy, Governance and Strategy

◉

○

○

Confidence Building Measures

◉

○

○

(I) Private equity

◉

○

○

Applicable modules

OTHER ASSET BREAKDOWNSPRIVATE EQUITY: SECTORS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 22

CORE

OO 21

N/A

PUBLICPrivate equity:
Sectors

GENERAL

In which sector(s) are your internally managed private equity assets invested?
☐ (A) Energy☑ (B) Materials☑ (C) Industrials☑ (D) Consumer discretionary☑ (E) Consumer staples☑ (F) Healthcare☐ (G) Financials☐ (H) Information technology☑ (I) Communication services☐ (J) Utilities☐ (K) Real estate11

PRIVATE EQUITY: OWNERSHIP LEVEL
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 23

CORE

OO 21

N/A

PUBLICPrivate equity:
Ownership level

GENERAL

What is the percentage breakdown of your internally managed private equity investments by the level of ownership?
☑ (A) A majority stake (more than 50%)
Select from the list:○ (1) >0 to 10%○ (2) >10 to 50%○ (3) >50 to 75%◉ (4) >75%
☐ (B) A significant minority stake (between 10–50%)☐ (C) A limited minority stake (less than 10%)SUBMISSION INFORMATIONREPORT DISCLOSURE
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

OO 32

CORE

OO 3, OO 31

N/A

PUBLIC

Report disclosure

GENERAL

How would you like to disclose the detailed percentage figures you reported throughout the Reporting Framework?
◉ (A) Publish as absolute numbers○ (B) Publish as ranges

12

POLICY, GOVERNANCE AND STRATEGY (PGS)
POLICYRESPONSIBLE INVESTMENT POLICY ELEMENTS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 1

CORE

OO 8, OO 9Multiple
indicators

PUBLIC

Responsible
investment policy
elements

1, 2Which elements are covered in your formal responsible investment policy(ies)?
☑ (A) Overall approach to responsible investment☑ (B) Guidelines on environmental factors☑ (C) Guidelines on social factors☑ (D) Guidelines on governance factors☑ (E) Guidelines on sustainability outcomes☐ (F) Guidelines tailored to the specific asset class(es) we hold
☑ (G) Guidelines on exclusions☑ (H) Guidelines on managing conflicts of interest related to responsible investment☑ (I) Stewardship: Guidelines on engagement with investees☐ (J) Stewardship: Guidelines on overall political engagement☑ (K) Stewardship: Guidelines on engagement with other key stakeholders☐ (M) Other responsible investment elements not listed here
○ (N) Our organisation does not have a formal responsible investment policy and/or our policy(ies) do not cover any responsible
investment elements
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 2

CORE

PGS 1

Multiple, seeguidance

PUBLIC

Responsible
investment policy
elements

1

Does your formal responsible investment policy(ies) include specific guidelines on systematic sustainability issues?
☑ (A) Specific guidelines on climate change (may be part of guidelines on environmental factors)☑ (B) Specific guidelines on human rights (may be part of guidelines on social factors)☐ (C) Specific guidelines on other systematic sustainability issues○ (D) Our formal responsible investment policy(ies) does not include guidelines on systematic sustainability issues

13IndicatorType of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 3

CORE

PGS 1, PGS 2

N/APUBLIC

Responsible
investment policy
elements

6

Which elements of your formal responsible investment policy(ies) are publicly available?
☑ (A) Overall approach to responsible investment
Add link:
https://www.tcap.co.jp/english/company/index.html#esg☑ (B) Guidelines on environmental factors
Add link:
https://www.tcap.co.jp/english/company/index.html#esg☑ (C) Guidelines on social factors
Add link:
https://www.tcap.co.jp/english/company/index.html#esg☑ (D) Guidelines on governance factors
Add link:
https://www.tcap.co.jp/english/company/index.html#esg☑ (E) Guidelines on sustainability outcomes
Add link:
https://www.tcap.co.jp/english/company/index.html#esg☐ (F) Specific guidelines on climate change (may be part of guidelines on environmental factors)☐ (G) Specific guidelines on human rights (may be part of guidelines on social factors)☐ (J) Guidelines on exclusions☐ (K) Guidelines on managing conflicts of interest related to responsible investment☐ (L) Stewardship: Guidelines on engagement with investees☐ (N) Stewardship: Guidelines on engagement with other key stakeholders○ (Q) No elements of our formal responsible investment policy(ies) are publicly available
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 4

PLUS

PGS 1

N/A

PUBLIC

Responsible
investment policy
elements

1–6

Does your formal responsible investment policy(ies) identify a link between your responsible investment activities andyour fiduciary duties or equivalent obligations?
○ (A) Yes
◉ (B) No

14

Explain why:NA

Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 5

CORE

PGS 1

N/A

PUBLIC

Responsible
investment policy
elements

2

Which elements are covered in your organisation’s policy(ies) or guidelines on stewardship?
☑ (A) Overall stewardship objectives☐ (B) Prioritisation of specific ESG factors to be advanced via stewardship activities☑ (C) Criteria used by our organisation to prioritise the investees, policy makers, key stakeholders, or other entities on
which to focus our stewardship efforts☑ (D) How different stewardship tools and activities are used across the organisation☑ (E) Approach to escalation in stewardship☑ (F) Approach to collaboration in stewardship☑ (G) Conflicts of interest related to stewardship☐ (H) How stewardship efforts and results are communicated across the organisation to feed into investment decision-making
and vice versa☐ (I) Other○ (J) None of the above elements is captured in our policy(ies) or guidelines on stewardshipRESPONSIBLE INVESTMENT POLICY COVERAGE
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 8

CORE

PGS 1

N/A

PUBLIC

Responsible
investment policy
coverage1

What percentage of your total AUM is covered by the below elements of your responsible investment policy(ies)?

15

Combined AUM coverage of all policy elements(A) Overall approach toresponsible investment(B) Guidelines on environmental
factors(C) Guidelines on social factors(D) Guidelines on governancefactors(7) 100%

Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 9

CORE

PGS 2

N/A

PUBLIC

Responsible
investment policy
coverage1

What proportion of your AUM is covered by your formal policies or guidelines on climate change, human rights, or othersystematic sustainability issues?
AUM coverage(A) Specific guidelines on climatechange(3) for a minority of our AUM(B) Specific guidelines on humanrights(1) for all of our AUM

Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 10CORE

OO 8, OO 9,
PGS 1

N/A

PUBLIC

Responsible
investment policy
coverage2

Per asset class, what percentage of your AUM is covered by your policy(ies) or guidelines on stewardship with investees?
☑ (C) Private equity(1) Percentage of AUM covered○ (1) >0% to 10%○ (2) >10% to 20%○ (3) >20% to 30%○ (4) >30% to 40%○ (5) >40% to 50%○ (6) >50% to 60%○ (7) >60% to 70%○ (8) >70% to 80%

16○ (9) >80% to 90%○ (10) >90% to <100%◉ (11) 100%

GOVERNANCE
ROLES AND RESPONSIBILITIESIndicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 11CORE

N/A

Multiple
indicators

PUBLIC

Roles and
responsibilities

1

Which senior level body(ies) or role(s) in your organisation have formal oversight over and accountability for responsible
investment?
☑ (A) Board members, trustees, or equivalent☐ (B) Senior executive-level staff, or equivalent☑ (C) Investment committee, or equivalentSpecify:
All 13 investment members and 4 IR and Administration members.

☐ (D) Head of department, or equivalent○ (E) None of the above bodies and roles have oversight over and accountability for responsible investment
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 11.1

CORE

PGS 1, PGS 2,
PGS 11

N/A

PUBLIC

Roles and
responsibilities

1, 2

Does your organisation's senior level body(ies) or role(s) have formal oversight over and accountability for the elements
covered in your responsible investment policy(ies)?

(1) Board members, trustees, or
equivalent(2) Senior executive-level staff,
investment committee, head of
department, or equivalent(A) Overall approach toresponsible investment☑

☑

(B) Guidelines on environmental,social and/or governance factors

☑

☐

17

(C) Guidelines on sustainability
outcomes☐☐(D) Specific guidelines on climatechange (may be part of guidelines
on environmental factors)☐☐(E) Specific guidelines on humanrights (may be part of guidelines
on social factors)☑

☐(H) Guidelines on exclusions☑

☑

(I) Guidelines on managing
conflicts of interest related toresponsible investment☑

☐(J) Stewardship: Guidelines on
engagement with investees☑

☑

(L) Stewardship: Guidelines on
engagement with other key
stakeholders☑

☐(N) This role has no formal
oversight over and accountability
for any of the above elements
covered in our responsible
investment policy(ies)○○Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 11.2

CORE

N/A

N/A

PUBLIC

Roles and
responsibilities

1–6

Does your organisation have governance processes or structures to ensure that your overall political engagement isaligned with your commitment to the principles of PRI, including any political engagement conducted by third parties on
your behalf?
○ (A) Yes
○ (B) No◉ (C) Not applicable, our organisation does not conduct any form of political engagement directly or through any third
parties18

IndicatorType of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 12

CORE

N/A

N/A

PUBLIC

Roles and
responsibilities

1

In your organisation, which internal or external roles are responsible for implementing your approach to responsible
investment?
☑ (A) Internal role(s)Specify:
Chief-level staff, Investment committee, Portfolio managers, Investment analysts, Investor relations☐ (B) External investment managers, service providers, or other external partners or suppliers○ (C) We do not have any internal or external roles with responsibility for implementing responsible investment
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 13

CORE

PGS 11

N/A

PUBLIC

Roles and
responsibilities

1

Does your organisation use responsible investment KPIs to evaluate the performance of your board members, trustees,or equivalent?
○ (A) Yes, we use responsible investment KPIs to evaluate the performance of our board members, trustees, or equivalent◉ (B) No, we do not use responsible investment KPIs to evaluate the performance of our board members, trustees, or
equivalent
Explain why: (Voluntary)
We haven't prepare KPIs to evaluate the performance of our board members, trustees, or equivalent.

19

EXTERNAL REPORTING AND DISCLOSURES
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 16

CORE

N/A

N/A

PUBLIC

External reportingand disclosures

6

What elements are included in your regular reporting to clients and/or beneficiaries for the majority of your AUM?
☑ (A) Any changes in policies related to responsible investment☑ (B) Any changes in governance or oversight related to responsible investment☑ (C) Stewardship-related commitments☐ (D) Progress towards stewardship-related commitments☑ (E) Climate–related commitments☐ (F) Progress towards climate–related commitments☑ (G) Human rights–related commitments☐ (H) Progress towards human rights–related commitments☑ (I) Commitments to other systematic sustainability issues☐ (J) Progress towards commitments on other systematic sustainability issues○ (K) We do not include any of these elements in our regular reporting to clients and/or beneficiaries for the majority of our AUM
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 17

CORE

N/A

N/A

PUBLIC

External reportingand disclosures

6

During the reporting year, did your organisation publicly disclose climate-related information in line with the Task Forceon Climate-Related Financial Disclosures' (TCFD) recommendations?
☐ (A) Yes, including all governance-related recommended disclosures☐ (B) Yes, including all strategy-related recommended disclosures☐ (C) Yes, including all risk management–related recommended disclosures☐ (D) Yes, including all applicable metrics and targets-related recommended disclosures◉ (E) None of the above
Explain why: (Voluntary)
We had a short staff, so we hadn't prepared it.

20

IndicatorType of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 19

CORE

N/A

N/A

PUBLIC

External reportingand disclosures

6

During the reporting year, did your organisation publicly disclose its membership in and support for trade associations,
think tanks or similar bodies that conduct any form of political engagement?
○ (A) Yes, we publicly disclosed our membership in and support for trade associations, think tanks, or similar bodies that conduct
any form of political engagement◉ (B) No, we did not publicly disclose our membership in and support for trade associations, think tanks, or similar
bodies that conduct any form of political engagement
Explain why:
We already disclosed before.

○ (C) Not applicable, we were not members in or supporters of any trade associations, think tanks, or similar bodies that conduct
any form of political engagement during the reporting year

STRATEGYCAPITAL ALLOCATION
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 20

CORE

N/A

N/A

PUBLIC

Capital allocation

1

Which elements do your organisation-level exclusions cover?
☑ (A) Exclusions based on our organisation's values or beliefs regarding particular sectors, products or services☑ (B) Exclusions based on our organisation's values or beliefs regarding particular regions or countries☐ (C) Exclusions based on minimum standards of business practice aligned with international norms such as the OECD
Guidelines for Multinational Enterprises, the International Bill of Human Rights, UN Security Council sanctions or the UN Global
Compact☐ (D) Exclusions based on our organisation’s climate change commitments☐ (E) Other elements○ (F) Not applicable; our organisation does not have any organisation-level exclusions
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 21

CORE

N/A

N/A

PUBLIC

Capital allocation

1

21

How does your responsible investment approach influence your strategic asset allocation process?
☑ (A) We incorporate ESG factors into our assessment of expected asset class risks and returns
Select from dropdown list:◉ (1) for all of our AUM subject to strategic asset allocation○ (2) for a majority of our AUM subject to strategic asset allocation○ (3) for a minority of our AUM subject to strategic asset allocation☐ (B) We incorporate climate change–related risks and opportunities into our assessment of expected asset class risks andreturns☑ (C) We incorporate human rights–related risks and opportunities into our assessment of expected asset class risks
and returns
Select from dropdown list:◉ (1) for all of our AUM subject to strategic asset allocation○ (2) for a majority of our AUM subject to strategic asset allocation○ (3) for a minority of our AUM subject to strategic asset allocation☐ (D) We incorporate risks and opportunities related to other systematic sustainability issues into our assessment of expectedasset class risks and returns○ (E) We do not incorporate ESG factors, climate change, human rights or other systematic sustainability issues into ourassessment of expected asset class risks and returns○ (F) Not applicable; we do not have a strategic asset allocation process

STEWARDSHIP: OVERALL STEWARDSHIP STRATEGY
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 22CORE

OO 8, OO 9N/A

PUBLIC

Stewardship: Overall
stewardship strategy

2

For the majority of AUM within each asset class, which of the following best describes your primary stewardshipobjective?

22

(3) Private equity(A) Maximise our portfolio-levelrisk-adjusted returns. In doing so,
we seek to address any risks tooverall portfolio performancecaused by individual investees’
contribution to systematicsustainability issues.

○(B) Maximise our individual
investments’ risk-adjusted returns.
In doing so, we do not seek toaddress any risks to overall
portfolio performance caused byindividual investees’ contribution tosystematic sustainability issues.

◉

Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 23

PLUS

OO 5, OO 8,
OO 9

N/A

PUBLIC

Stewardship: Overall
stewardship strategy

2

How does your organisation, or the external service providers or external managers acting on your behalf, prioritise theinvestees or other entities on which to focus its stewardship efforts?
We investigate and confirm ESG issues for all our investments in accordance with the ESG Checklist before making any investment. Basedon what we have confirmed, we prioritize, consider and implement ways to improve. After the investment is made, we conduct an annual
check.

Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 25

PLUS

OO 5, OO 8,
OO 9

N/A

PUBLIC

Stewardship: Overall
stewardship strategy

2

Rank the channels that are most important for your organisation in achieving its stewardship objectives.
☑ (A) Internal resources, e.g. stewardship team, investment team, ESG team, or staff

23

Select from the list:
◉1
○ 3
○ 4
○ 5
☑ (B) External investment managers, third-party operators and/or external property managers, if applicable
Select from the list:
◉2
○ 3
○ 4
○ 5
☐ (C) External paid specialist stewardship services (e.g. engagement overlay services or, in private markets, sustainability
consultants) excluding investment managers, real assets third-party operators, or external property managers☐ (D) Informal or unstructured collaborations with investors or other entities☐ (E) Formal collaborative engagements, e.g. PRI-coordinated collaborative engagements, Climate Action 100+, or similar○ (F) We do not use any of these channels

STEWARDSHIP: ENGAGEMENT WITH POLICY MAKERS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 39CORE

OO 8, OO 9

PGS 39.1,
PGS 39.2

PUBLIC

Stewardship:
Engagement with
policy makers

2

Did your organisation, or the external investment managers or service providers acting on your behalf, engage with policy
makers as part of your responsible investment approach during the reporting year?
☑ (A) Yes, we engaged with policy makers directly☐ (B) Yes, we engaged with policy makers through the leadership of or active participation in working groups or collaborative
initiatives, including via the PRI☐ (C) Yes, we were members of, supported, or were in another way affiliated with third party organisations, including tradeassociations and non-profit organisations, that engage with policy makers, excluding the PRI○ (D) We did not engage with policy makers directly or indirectly during the reporting year beyond our membership in the PRI
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 39.1

CORE

PGS 39N/A

PUBLIC

Stewardship:
Engagement with
policy makers

2During the reporting year, what methods did you, or the external investment managers or service providers acting on yourbehalf, use to engage with policy makers as part of your responsible investment approach?
☐ (A) We participated in 'sign-on' letters☐ (B) We responded to policy consultations☑ (C) We provided technical input via government- or regulator-backed working groups24Describe:
We provided information to METI.

☐ (D) We engaged policy makers on our own initiative☐ (E) Other methods
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 39.2

CORE

PGS 39N/A

PUBLIC

Stewardship:
Engagement with
policy makers

2During the reporting year, did your organisation publicly disclose details of your engagement with policy makers
conducted as part of your responsible investment approach, including through external investment managers or service
providers?
☐ (A) We publicly disclosed all our policy positions☐ (B) We publicly disclosed details of our engagements with policy makers◉ (C) No, we did not publicly disclose details of our engagement with policy makers conducted as part of our
responsible investment approach during the reporting year
Explain why:
Because it wasn't something that could be made public.

STEWARDSHIP: EXAMPLES
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 40PLUS

OO 8, OO 9N/A

PUBLIC

Stewardship:
Examples2

Provide examples of stewardship activities that you conducted individually or collaboratively during the reporting yearthat contributed to desired changes in the investees, policy makers or other entities with which you interacted.
(A) Example 1:
Title of stewardship activity:
FSC certified paper(1) Led by◉ (1) Internally led○ (2) External service provider led○ (3) Led by an external investment manager, real assets third-party operator and/or external property manager(2) Primary focus of stewardship activity☐ (1) Environmental factors☐ (2) Social factors☑ (3) Governance factors

25

(3) Asset class(es)☐ (1) Listed equity☐ (2) Fixed income☑ (3) Private equity☐ (4) Real estate☐ (5) Infrastructure☐ (6) Hedge funds☐ (7) Forestry☐ (8) Farmland☐ (9) Other(4) Description of the activity and what was achieved. For collaborative activities, provide detail on your individual contribution.
one of the Portopholio apparel company changed the paper used for price tags to FSC-certified paper and reduced the size of thetags, thereby reducing the use of raw materials.

(B) Example 2:
Title of stewardship activity:(1) Led by○ (1) Internally led○ (2) External service provider led○ (3) Led by an external investment manager, real assets third-party operator and/or external property manager(2) Primary focus of stewardship activity☐ (1) Environmental factors☐ (2) Social factors☐ (3) Governance factors(3) Asset class(es)☐ (1) Listed equity☐ (2) Fixed income☐ (3) Private equity☐ (4) Real estate☐ (5) Infrastructure☐ (6) Hedge funds☐ (7) Forestry☐ (8) Farmland☐ (9) Other(4) Description of the activity and what was achieved. For collaborative activities, provide detail on your individual contribution.
(C) Example 3:
Title of stewardship activity:(1) Led by○ (1) Internally led○ (2) External service provider led○ (3) Led by an external investment manager, real assets third-party operator and/or external property manager(2) Primary focus of stewardship activity☐ (1) Environmental factors☐ (2) Social factors☐ (3) Governance factors

26

(3) Asset class(es)☐ (1) Listed equity☐ (2) Fixed income☐ (3) Private equity☐ (4) Real estate☐ (5) Infrastructure☐ (6) Hedge funds☐ (7) Forestry☐ (8) Farmland☐ (9) Other(4) Description of the activity and what was achieved. For collaborative activities, provide detail on your individual contribution.
(D) Example 4:
Title of stewardship activity:(1) Led by○ (1) Internally led○ (2) External service provider led○ (3) Led by an external investment manager, real assets third-party operator and/or external property manager(2) Primary focus of stewardship activity☐ (1) Environmental factors☐ (2) Social factors☐ (3) Governance factors(3) Asset class(es)☐ (1) Listed equity☐ (2) Fixed income☐ (3) Private equity☐ (4) Real estate☐ (5) Infrastructure☐ (6) Hedge funds☐ (7) Forestry☐ (8) Farmland☐ (9) Other(4) Description of the activity and what was achieved. For collaborative activities, provide detail on your individual contribution.
(E) Example 5:
Title of stewardship activity:(1) Led by○ (1) Internally led○ (2) External service provider led○ (3) Led by an external investment manager, real assets third-party operator and/or external property manager(2) Primary focus of stewardship activity☐ (1) Environmental factors☐ (2) Social factors☐ (3) Governance factors(3) Asset class(es)☐ (1) Listed equity☐ (2) Fixed income☐ (3) Private equity☐ (4) Real estate☐ (5) Infrastructure☐ (6) Hedge funds☐ (7) Forestry☐ (8) Farmland27☐ (9) Other(4) Description of the activity and what was achieved. For collaborative activities, provide detail on your individual contribution.

CLIMATE CHANGE
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 41

CORE

N/A

PGS 41.1

PUBLICClimate change

General

Has your organisation identified climate-related risks and opportunities affecting your investments?
☑ (A) Yes, within our standard planning horizon
Specify the risks and opportunities identified and your relevant standard planning horizon:
We specified them in one portfolio company that calculated electricity consumption and utility costs, disposal volume and disposal
costs in the portfolio company.

☐ (B) Yes, beyond our standard planning horizon○ (C) No, we have not identified climate-related risks and/or opportunities affecting our investments
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 41.1

CORE

PGS 41

N/A

PUBLICClimate change

General

Does your organisation integrate climate-related risks and opportunities affecting your investments in its overall
investment strategy, financial planning and (if relevant) products?
◉ (A) Yes, our overall investment strategy, financial planning and (if relevant) products integrate climate-related risks
and opportunities
Describe how climate-related risks and opportunities have affected or are expected to affect your investment strategy, financial
planning and (if relevant) products:
We use an ESG checklist to research and confirm all investments against ESG issues prior to investment execution. The ESG
assessment of a company we are considering investing in is very important and is one of the factors that help us determine whether
it is appropriate to invest in the company.

○ (B) No, our organisation has not yet integrated climate-related risks and opportunities into its investment strategy, financial
planning and (if relevant) products
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 42

PLUS

N/A

N/A

PUBLICClimate change

General28

Which sectors are covered by your organisation’s strategy addressing high-emitting sectors?
☐ (A) Coal
☐ (B) Gas
☐ (C) Oil☐ (D) Utilities☐ (E) Cement☐ (F) Steel☐ (G) Aviation☐ (H) Heavy duty road
☐ (I) Light duty road☐ (J) Shipping☐ (K) Aluminium☐ (L) Agriculture, forestry, fishery☐ (M) Chemicals☐ (N) Construction and buildings☐ (O) Textile and leather☐ (P) Water☐ (Q) Other◉ (R) We do not have a strategy addressing high-emitting sectors
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 43

CORE

N/A

N/A

PUBLICClimate change

General

Has your organisation assessed the resilience of its investment strategy in different climate scenarios, including one inwhich the average temperature rise is held to below 2 degrees Celsius (preferably to 1.5 degrees Celsius) above preindustrial levels?
☐ (A) Yes, using the Inevitable Policy Response Forecast Policy Scenario (FPS) or Required Policy Scenario (RPS)☐ (B) Yes, using the One Earth Climate Model scenario☐ (C) Yes, using the International Energy Agency (IEA) Net Zero scenario☐ (D) Yes, using other scenarios◉ (E) No, we have not assessed the resilience of our investment strategy in different climate scenarios, including one
that holds temperature rise to below 2 degrees
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 44

CORE

N/A

N/A

PUBLICClimate change

General

Does your organisation have a process to identify, assess, and manage the climate-related risks (potentially) affecting
your investments?
☑ (A) Yes, we have a process to identify and assess climate-related risks(1) Describe your process29

We use an ESG checklist to identify and assess climate-related risks in our investments once a year, which is managed by our ESG
Committee(2) Describe how this process is integrated into your overall risk management
We use the above process to evaluate all of our investments and consider the portfolio as a whole.

☐ (B) Yes, we have a process to manage climate-related risks○ (C) No, we do not have any processes to identify, assess, or manage the climate-related risks affecting our investments
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 45

CORE

N/A

N/A

PUBLICClimate change

GeneralDuring the reporting year, which of the following climate risk metrics or variables affecting your investments did yourorganisation use and disclose?
☐ (A) Exposure to physical risk
☐ (B) Exposure to transition risk
☐ (C) Internal carbon price☐ (D) Total carbon emissions☐ (E) Weighted average carbon intensity☐ (F) Avoided emissions☐ (G) Implied Temperature Rise (ITR)☐ (H) Non-ITR measure of portfolio alignment with UNFCCC Paris Agreement goals☐ (I) Proportion of assets or other business activities aligned with climate-related opportunities☐ (J) Other metrics or variables◉ (K) Our organisation did not use or disclose any climate risk metrics or variables affecting our investments during thereporting year
Explain why: (Voluntary)
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 46

CORE

N/A

N/A

PUBLICClimate change

GeneralDuring the reporting year, did your organisation disclose its Scope 1, Scope 2, and/or Scope 3 greenhouse gas
emissions?
☐ (A) Scope 1 emissions☐ (B) Scope 2 emissions☐ (C) Scope 3 emissions (including financed emissions)◉ (D) Our organisation did not disclose its Scope 1, Scope 2, or Scope 3 greenhouse gas emissions during the reporting
year

30

SUSTAINABILITY OUTCOMES
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 47CORE

N/A

Multiple
indicators

PUBLIC

Sustainability
outcomes1, 2

Has your organisation identified the intended and unintended sustainability outcomes connected to its investment
activities?
◉ (A) Yes, we have identified one or more specific sustainability outcomes connected to our investment activities○ (B) No, we have not yet identified the sustainability outcomes connected to any of our investment activities
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 47.1

CORE

PGS 47

N/A

PUBLIC

Sustainability
outcomes

1, 2Which widely recognised frameworks has your organisation used to identify the intended and unintended sustainability
outcomes connected to its investment activities?
☑ (A) The UN Sustainable Development Goals (SDGs) and targets☐ (B) The UNFCCC Paris Agreement☐ (C) The UN Guiding Principles on Business and Human Rights (UNGPs)☐ (D) OECD frameworks: OECD Guidelines for Multinational Enterprises and Guidance on Responsible Business Conduct for
Institutional Investors☐ (E) The EU Taxonomy☐ (F) Other relevant taxonomies☐ (G) The International Bill of Human Rights☐ (H) The International Labour Organization’s Declaration on Fundamental Principles and Rights at Work and the eight core
conventions☐ (I) The Convention on Biological Diversity☐ (J) Other international framework(s)☐ (K) Other regional framework(s)☐ (L) Other sectoral/issue-specific framework(s)○ (M) Our organisation did not use any widely recognised frameworks to identify the intended and unintended sustainability
outcomes connected to its investment activities
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 47.2

CORE

PGS 47

PGS 48

PUBLIC

Sustainability
outcomes

1, 2

31

What are the primary methods that your organisation has used to determine the most important intended and unintended
sustainability outcomes connected to its investment activities?
☑ (A) Identify sustainability outcomes that are closely linked to our core investment activities☑ (B) Consult with key clients and/or beneficiaries to align with their priorities☑ (C) Assess which actual or potential negative outcomes for people are most severe based on their scale, scope, andirremediable character☐ (D) Identify sustainability outcomes that are closely linked to systematic sustainability issues☑ (E) Analyse the input from different stakeholders (e.g. affected communities, civil society, trade unions or similar)☐ (F) Understand the geographical relevance of specific sustainability outcome objectives☐ (G) Other method○ (H) We have not yet determined the most important sustainability outcomes connected to our investment activities
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 48

CORE

PGS 47.2

PGS 48.1,
SO 1

PUBLIC

Sustainability
outcomes1, 2

Has your organisation taken action on any specific sustainability outcomes connected to its investment activities,
including to prevent and mitigate actual and potential negative outcomes?
◉ (A) Yes, we have taken action on some of the specific sustainability outcomes connected to our investment activities○ (B) No, we have not yet taken action on any specific sustainability outcomes connected to our investment activities
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 48.1

PLUS

PGS 48N/A

PUBLIC

Sustainability
outcomes

1, 2

Why has your organisation taken action on specific sustainability outcomes connected to its investment activities?
☐ (A) We believe that taking action on sustainability outcomes is relevant to our financial risks and returns over both short- andlong-term horizons☑ (B) We believe that taking action on sustainability outcomes, although not yet relevant to our financial risks andreturns, will become so over a long-time horizon☐ (C) We have been requested to do so by our clients and/or beneficiaries☑ (D) We want to prepare for and respond to legal and regulatory developments that are increasingly addressing
sustainability outcomes☑ (E) We want to protect our reputation, particularly in the event of negative sustainability outcomes connected toinvestments☑ (F) We want to enhance our social licence-to-operate (i.e. the trust of beneficiaries, clients, and other stakeholders)☐ (G) We believe that taking action on sustainability outcomes in parallel to financial return goals has merit in its own right☐ (H) Other32

HUMAN RIGHTS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 49PLUS

PGS 47

PGS 49.1

PUBLIC

Human rights

1, 2

During the reporting year, what steps did your organisation take to identify and take action on the actual and potentiallynegative outcomes for people connected to your investment activities?
☑ (A) We assessed the human rights context of our potential and/or existing investments and projected how this could
connect our organisation to negative human rights outcomes
Explain how these activities were conducted:☐ (B) We assessed whether individuals at risk or already affected might be at heightened risk of harm
☐ (C) We consulted with individuals and groups who were at risk or already affected, their representatives and/or other relevant
stakeholders such as human rights experts☐ (D) We took other steps to assess and manage the actual and potentially negative outcomes for people connected to ourinvestment activities○ (E) We did not identify and take action on the actual and potentially negative outcomes for people connected to any of ourinvestment activities during the reporting year
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 49.1

PLUS

PGS 49N/A

PUBLIC

Human rights

1, 2

During the reporting year, which stakeholder groups did your organisation include when identifying and taking action on
the actual and potentially negative outcomes for people connected to your investment activities?
☑ (A) Workers
Sector(s) for which each stakeholder group was included☐ (1) Energy☐ (2) Materials☑ (3) Industrials☐ (4) Consumer discretionary☑ (5) Consumer staples☑ (6) Healthcare☐ (7) Finance☐ (8) Information technology☑ (9) Communication services☐ (10) Utilities☐ (11) Real estate☐ (B) Communities☐ (C) Customers and end-users☐ (D) Other stakeholder groups

33

IndicatorType of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 49.2

PLUS

PGS 47

N/A

PUBLIC

Human rights

1, 2

During the reporting year, what information sources did your organisation use to identify the actual and potentiallynegative outcomes for people connected to its investment activities?
☑ (A) Corporate disclosures
Provide further detail on how your organisation used these information sources:☑ (B) Media reports
Provide further detail on how your organisation used these information sources:☐ (C) Reports and other information from NGOs and human rights institutions☐ (D) Country reports, for example, by multilateral institutions, e.g. OECD, World Bank☐ (E) Data provider scores or benchmarks☐ (F) Human rights violation alerts☑ (G) Sell-side research
Provide further detail on how your organisation used these information sources:☑ (H) Investor networks or other investors
Provide further detail on how your organisation used these information sources:☐ (I) Information provided directly by affected stakeholders or their representatives☑ (J) Social media analysis
Specify:
Provide further detail on how your organisation used these information sources:☐ (K) Other
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PGS 50PLUS

PGS 47

N/A

PUBLIC

Human rights

1, 2

During the reporting year, did your organisation, directly or through influence over investees, enable access to remedy forpeople affected by negative human rights outcomes connected to your investment activities?
☑ (A) Yes, we enabled access to remedy directly for people affected by negative human rights outcomes we caused orcontributed to through our investment activities
Describe:☐ (B) Yes, we used our influence to ensure that our investees provided access to remedies for people affected by negative
human rights outcomes we were linked to through our investment activities○ (C) No, we did not enable access to remedy directly, or through the use of influence over investees, for people affected bynegative human rights outcomes connected to our investment activities during the reporting year34

PRIVATE EQUITY (PE)POLICYINVESTMENT GUIDELINES
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 1

CORE

OO 21

N/A

PUBLIC

Investment
guidelines

1 to 6

What private equity–specific ESG guidelines are currently covered in your organisation's responsible investment
policy(ies)?
☑ (A) Guidelines on our ESG approach tailored to the sector(s) and geography(ies) where we invest☑ (B) Guidelines on our ESG approach tailored to the strategy(ies) and company stage(s) where we invest, e.g. venture
capital, buy-out and distressed☑ (C) Guidelines on pre-investment screening☑ (D) Guidelines on minimum ESG due diligence requirements☐ (E) Guidelines on our approach to ESG integration into short-term or 100-day plans (or equivalent)☑ (F) Guidelines on our approach to ESG integration into long-term value-creation efforts☑ (G) Guidelines on our approach to monitoring ESG risks, ESG opportunities and ESG incidents☑ (H) Guidelines on our approach to ESG reporting○ (I) Our responsible investment policy(ies) does not cover private equity–specific ESG guidelines

FUNDRAISINGCOMMITMENTS TO INVESTORS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 2

CORE

OO 21

N/A

PUBLIC

Commitments toinvestors

1, 4

For all of the funds that you closed during the reporting year, what type of formal responsible investment commitments
did you make in Limited Partnership Agreements (LPAs), side letters or other constitutive fund documents?
◉ (A) We incorporated responsible investment commitments in LPAs (or equivalent) as a standard default procedure○ (B) We added responsible investment commitments in LPAs (or equivalent) upon clients' request○ (C) We added responsible investment commitments in side letters upon clients' request○ (D) We did not make any formal responsible investment commitments for the relevant reporting year
○ (E) Not applicable; we have not raised funds in the last five years

35PRE-INVESTMENT
MATERIALITY ANALYSIS
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 3

CORE

OO 21

PE 3.1

PUBLIC

Materiality analysis

1

During the reporting year, how did you conduct ESG materiality analysis for your potential private equity investments?
◉ (A) We assessed ESG materiality at the portfolio company level, as each case is unique
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for the majority of our potential private equity investments○ (3) for a minority of our potential private equity investments○ (B) We performed a mix of industry-level and portfolio company-level ESG materiality analyses○ (C) We assessed ESG materiality at the industry level only
○ (D) We did not conduct ESG materiality analyses for our potential private equity investments
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 3.1

CORE

PE 3

N/A

PUBLIC

Materiality analysis

1

During the reporting year, what tools, standards and data did you use in your ESG materiality analysis of potential private
equity investments?
☐ (A) We used GRI standards to inform our private equity ESG materiality analysis☐ (B) We used SASB standards to inform our private equity ESG materiality analysis☑ (C) We used the UN Sustainable Development Goals (SDGs) to inform our private equity ESG materiality analysis☐ (D) We used environmental and social factors detailed in the IFC Performance Standards (or other similar standards used bydevelopment-focused financial institutions) in our private equity ESG materiality analysis☐ (E) We used climate disclosures, such as the TCFD recommendations or other climate risk and/or exposure analysis tools, toinform our private equity ESG materiality analysis☐ (F) We used the UN Guiding Principles on Business and Human Rights (UNGPs) to inform our private equity ESG materiality
analysis☑ (G) We used geopolitical and macro-economic considerations in our private equity ESG materiality analysis☑ (H) We engaged with the prospective portfolio company to inform our private equity ESG materiality analysis☐ (I) Other

36

DUE DILIGENCE
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 4

CORE

OO 21

N/A

PUBLICDue diligence1

During the reporting year, how did material ESG factors influence the selection of your private equity investments?
☑ (A) Material ESG factors were used to identify risks
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for the majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (B) Material ESG factors were discussed by the investment committee (or equivalent)
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for the majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☐ (C) Material ESG factors were used to identify remedial actions for our 100-day plans (or equivalent)☑ (D) Material ESG factors were used to identify opportunities for value creation
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for the majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (E) Material ESG factors informed our decision to abandon potential investments in the due diligence phase in cases
where ESG risks were considered too high to mitigate
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for the majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (F) Material ESG factors impacted investments in terms of the price offered and/or paid
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for the majority of our potential private equity investments○ (3) for a minority of our potential private equity investments○ (G) Material ESG factors did not influence the selection of our private equity investments
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 5

CORE

OO 21

N/A

PUBLICDue diligence

1

Once material ESG factors have been identified, what processes do you use to conduct due diligence on these factors forpotential private equity investments?
☑ (A) We do a high-level or desktop review using an ESG checklist for initial red flags

37Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☐ (B) We send detailed ESG questionnaires to target companies☑ (C) We hire third-party consultants to do technical due diligence on specific material ESG factors
Select from dropdown list
○ (1) for all of our potential private equity investments◉ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (D) We conduct site visits
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (E) We conduct in-depth interviews with management and/or personnel
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (F) We conduct detailed external stakeholder analyses and/or engagement
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (G) We incorporate ESG due diligence findings in all of our relevant investment process documentation in the samemanner as other key due diligence, e.g. commercial, accounting and legal
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☑ (H) Our investment committee (or an equivalent decision-making body) is ultimately responsible for ensuring all ESG
due diligence is completed in the same manner as for other key due diligence, e.g. commercial, accounting, and legal
Select from dropdown list
◉ (1) for all of our potential private equity investments○ (2) for a majority of our potential private equity investments○ (3) for a minority of our potential private equity investments☐ (I) Other○ (J) We do not conduct due diligence on material ESG factors for potential private equity investments

38

POST-INVESTMENTMONITORING
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 6

CORE

OO 21

PE 6.1

PUBLIC

Monitoring

1

During the reporting year, did you track one or more KPIs on material ESG factors across your private equity
investments?
☑ (A) Yes, we tracked KPIs on environmental factors
Percentage of portfolio companies this applies to:○ (1) >0 to 10%◉ (2) >10 to 50%○ (3) >50 to 75%○ (4) >75 to 95%○ (5) >95%
☑ (B) Yes, we tracked KPIs on social factors
Percentage of portfolio companies this applies to:○ (1) >0 to 10%○ (2) >10 to 50%○ (3) >50 to 75%○ (4) >75 to 95%◉ (5) >95%
☑ (C) Yes, we tracked KPIs on governance factors
Percentage of portfolio companies this applies to:○ (1) >0 to 10%○ (2) >10 to 50%○ (3) >50 to 75%○ (4) >75 to 95%◉ (5) >95%
○ (D) We did not track KPIs on material ESG factors across our private equity investments
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 7

CORE

OO 21

PE 7.1

PUBLIC

Monitoring

1, 2What processes do you have in place to support meeting your targets on material ESG factors for your private equity
investments?
☑ (A) We use operational-level benchmarks to assess and analyse the performance of portfolio companies against
sector performance
Select from dropdown list
○ (1) for all of our private equity investments◉ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments39☐ (B) We implement international best practice standards, such as the IFC Performance Standards, to guide ongoingassessments and analyses☐ (C) We implement certified environmental and social management systems across our portfolio☑ (D) We make sufficient budget available to ensure that the systems and procedures needed are established
Select from dropdown list
○ (1) for all of our private equity investments◉ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☐ (E) We hire external verification services to audit performance, systems, and procedures☑ (F) We conduct ongoing engagement with all key stakeholders at the portfolio company level, e.g. local communities,
NGOs, governments, and end-users
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☐ (G) We implement 100-day plans, ESG roadmaps and similar processes☐ (H) Other○ (I) We do not have processes in place to help meet our targets on material ESG factors for our private equity investments
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 9

CORE

OO 21

N/A

PUBLIC

Monitoring

1, 2

Post-investment, how do you manage material ESG risks and ESG opportunities to create value during the holding periodof your investments?
☑ (A) We develop company-specific ESG action plans based on pre-investment research, due diligence and materiality
findings
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (B) We adjust our ESG action plans based on performance monitoring findings at least yearly
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (C) We, or the external advisors that we hire, support our private equity investments with specific ESG value-creation
opportunities
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (D) We engage with the board to manage ESG risks and ESG opportunities post-investment
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☐ (E) Other○ (F) We do not manage material ESG risks and opportunities post-investment

40

IndicatorType of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 12

CORE

OO 21

PE 12.1

PUBLIC

Monitoring

1, 2

How do you ensure that adequate ESG-related competence exists at the portfolio company level?
☑ (A) We assign the board responsibility for ESG matters
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (B) We ensure that material ESG matters are discussed by the board at least yearly
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (C) We provide training on ESG aspects and management best practices relevant to the portfolio company to C-suite
executives only
Select from dropdown list
○ (1) for all of our private equity investments◉ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (D) We provide training on ESG aspects and management best practices relevant to the portfolio company toemployees (excl. C-suite executives)
Select from dropdown list
○ (1) for all of our private equity investments◉ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (E) We support the portfolio company in developing and implementing its ESG strategy
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (F) We support portfolio companies by finding external ESG expertise, e.g. consultants or auditors
Select from dropdown list
○ (1) for all of our private equity investments◉ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☑ (G) We share best practices across portfolio companies, e.g. educational sessions or the implementation ofenvironmental and social management systems
Select from dropdown list
○ (1) for all of our private equity investments○ (2) for a majority of our private equity investments◉ (3) for a minority of our private equity investments☑ (H) We include penalties or incentives to improve ESG performance in management remuneration schemes

41Select from dropdown list
○ (1) for all of our private equity investments◉ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☐ (I) Other○ (J) We do not ensure that adequate ESG-related competence exists at the portfolio company level

EXIT
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 13

CORE

OO 21

N/A

PUBLICExit

4, 6

During the reporting year, what responsible investment information was shared with potential buyers of private equity
investments?
☑ (A) Our firm's high-level commitment to responsible investment, e.g. that we are a PRI signatory
Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☐ (B) A description of what industry and asset class standards our firm aligns with, e.g. TCFD
☑ (C) Our firm's responsible investment policy (at minimum, a summary of key aspects and firm-specific approach)Select from dropdown list
◉ (1) for all of our private equity investments○ (2) for a majority of our private equity investments○ (3) for a minority of our private equity investments☐ (D) Our firm's ESG risk assessment methodology (topics covered in-house and/or with external support)☐ (E) The outcome of our latest ESG risk assessment on the asset or portfolio company☐ (F) Key ESG performance data on the asset or portfolio company being sold
☐ (G) Other○ (H) No responsible investment information was shared with potential buyers of private equity investments during the reportingyear○ (I) Not applicable; we had no sales process (or control over the sales process) during the reporting year

42

DISCLOSURE OF ESG PORTFOLIO INFORMATION
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

PE 14

CORE

OO 21

N/A

PUBLIC

Disclosure of ESG
portfolio information

6

During the reporting year, how did you report your targets on material ESG factors and related data to your investors?
☑ (A) We used a publicly disclosed sustainability report☑ (B) We reported in aggregate through formal reporting to investors☑ (C) We reported at the portfolio company level through formal reporting to investors☑ (D) We reported through a limited partners advisory committee (or equivalent)☑ (E) We reported back at digital or physical events or meetings with investors☐ (F) We had a process in place to ensure that reporting on serious ESG incidents occurred☐ (G) Other○ (H) We did not report our targets on material ESG factors and related data to our investors during the reporting year

CONFIDENCE-BUILDING MEASURES (CBM)
CONFIDENCE-BUILDING MEASURESAPPROACH TO CONFIDENCE-BUILDING MEASURES
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

CBM 1

CORE

N/A

Multiple
indicators

PUBLICApproach toconfidence-building
measures6

How did your organisation verify the information submitted in your PRI report this reporting year?
☐ (A) We conducted independent third-party assurance of selected processes and/or data related to the responsible investment
processes reported in our PRI report, which resulted in a formal assurance conclusion☐ (B) We conducted a third-party readiness review and are making changes to our internal controls or governance processes tobe able to conduct independent third-party assurance next year
☐ (C) We conducted an internal audit of selected processes and/or data related to the responsible investment processes
reported in our PRI report☑ (D) Our board, trustees (or equivalent), senior executive-level staff (or equivalent), and/or investment committee (orequivalent) signed off on our PRI report☐ (E) We conducted an external ESG audit of our holdings to verify that our funds comply with our responsible investment policy☐ (F) We conducted an external ESG audit of our holdings as part of risk management, engagement identification or investment
decision-making

43☑ (G) Our responses in selected sections and/or the entirety of our PRI report were internally reviewed before
submission to the PRI○ (H) We did not verify the information submitted in our PRI report this reporting year

INTERNAL REVIEW
Indicator

Type of indicator

Dependent on

Gateway toDisclosure

Subsection

PRI Principle

CBM 6

CORE

CBM 1

N/A

PUBLICInternal review

6

Who in your organisation reviewed the responses submitted in your PRI report this year?
☑ (A) Board, trustees, or equivalent
Sections of PRI report reviewed◉ (1) the entire report○ (2) selected sections of the report☐ (B) Senior executive-level staff, investment committee, head of department, or equivalent○ (C) None of the above internal roles reviewed selected sections or the entirety of the responses submitted in our PRI report
this year44