GroveStreet Policy Statement

The Principles for Responsible Investment

GroveStreet is a signatory to the Principles for Responsible Investment (PRI) in recognition that material environmental, social and governance (ESG) factors may impact the financial performance of long-term investments within the venture capital and buyout industries. Consistent with our fiduciary obligations to act in the best long-term interest of our investors, the PRI offers a framework through which to assess and continually improve our attention to these factors for all assets under management recognizing the distinct objectives and preferences of each of our investors.

The Principles

The PRI were developed by the investment community in 2005, under the auspices of the United Nations. In becoming a signatory in 2021, to the extent consistent with our fiduciary responsibilities and our agreements with our investors, we agree to:

  • Incorporate ESG issues into investment analysis and decision-making processes.
  • Be active owners 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 Principles within the investment industry.
  • Work together to enhance our effectiveness in implementing the Principles.
  • Report on our activities and progress towards implementing the Principles.

The GroveStreet Responsibility Oversight Committee is charged with overseeing our PRI efforts. The committee includes a Managing Partner and other members of the Investment and Finance Teams.

Our Investment Team seeks to continually improve our practices to incorporate ESG factors into our due diligence and monitoring processes, focusing for all investors on issues that may have a material negative impact on the financial performance of investments. Examples may include a fund’s or portfolio company’s governance practices, the quality and transparency of the operations of the fund or portfolio company, and the impacts of the fund’s investments. We further develop objectives and report on progress toward achieving these objectives in a manner that is customized to any preferences an investor requests. Finally, GroveStreet was founded around the principles of alignment of interests and transparency between ourselves and a small base of institutional investors, and we believe that the PRI are consistent with and support these founding principles.