Navigating ESG issues during the private fundraising process

SEC examinations Policies and procedures ■ Requires coordination across IR, legal and compliance, investment, and ESG teams ■ Tailor policies to specific business lines (e.g., PE v. RE v. credit v. public equity v. fund of funds) ■ Service providers ROPES & GRAY Two sets of policies - ESG policy Compliance with ESG disclosures - For example, voting securities consistent with policies Red state vs. blue state 13

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