Our Partnerships and Funds comprise a high-quality portfolio of funds diversified across geographies, sectors, and vintages. Our asset management companies (AMCs) include those managed by our main Asset Management Platform, Seviora Holdings, as well as others such as 65 Equity Partners, Aranda Principal Strategies, Decarbonization Partners, and True Light Capital.
Representing around 19% of our portfolio as at 31 March 2026, our Partnerships, Funds, and Asset Management Companies (PFAs) enable us to scale our capital and access a broad range of opportunities, that include offering capital solutions such as private equity, private credit, and tailored financing options.
While our investment exposure through our PFAs is smaller compared to our direct investments, we also extend our environmental, social, and governance (ESG) approach to these investments.
In assessing external fund managers, we evaluate their ESG approach from an investment lifecycle perspective. We seek to understand their ESG commitment, due diligence process, stewardship practices, and reporting to investors on ESG. We also endeavour to understand how they manage climate-related risks and opportunities, referencing leading international frameworks.
On an ongoing basis, we engage in conversations with these managers to foster mutual learning and best practice sharing. We expect the external managers to adopt a similar mindset of continuous improvement and to strive to apply best industry practices in managing material ESG issues for their portfolios. We monitor the ESG practices of our key external managers through a regular survey, where they share their latest ESG initiatives and plans going forward, for the core areas of our assessment. We also have deeper and more regular engagements with external managers for which we have active investment positions in the fund management company, beyond just fund investments.
We work closely with our main Asset Management Platform, Seviora Holdings, to support the development of fit-for-purpose ESG frameworks and integration approaches that advance the ESG maturity of our AMCs across their investment lifecycles.
