BOSTON--(BUSINESS WIRE)--Audax Group ("Audax"), a leading alternative investment manager specializing in investments in North American middle market companies, today announced it has become a signatory to the United Nations-supported Principles for Responsible Investment (“UN PRI” or “PRI”). The UN PRI is the leading global network of investment managers, asset owners and service providers committed to investing responsibly by incorporating Environmental, Social, and Governance (“ESG”) factors into their investment practices and business operations.
“Responsible investment practices are deeply embedded within Audax’ culture, playing an integral role in our investment strategy,” said Co-Founder and Co-CEO of Audax, Geoff Rehnert. “We view the Principles for Responsible Investment as a gold-standard guide to being thoughtful corporate citizens and an opportunity to continue delivering impact beyond financial returns. Audax is honored to join the UN PRI initiative, and we look forward to continue utilizing responsible investment practices to be a part of helping create a better world."
“We are delighted to welcome Audax as a signatory to the Principles for Responsible Investment, and commend the firm’s commitment to incorporating responsible investment practices into their investment strategies,” commented PRI’s CEO David Atkin. “The rapid rise of ESG speaks to a fundamental shift in the way investors view their role and the impact of their business on society and the planet. We look forward to working with Audax to continue to affect change on these important issues.”
The UN-supported PRI is an international organization dedicated to implementing responsible investment through six key principles. These principles—developed by investors, for investors—are voluntary and equip investors with the guidelines for incorporating ESG strategies into business practices and decision-making. In implementing them, signatories contribute to developing a more sustainable global financial system while continuing to seek good investment returns for their clients. The UN-supported PRI was formed in 2005 and launched at the New York Stock Exchange in 2006.
The six key principles are:
- We will incorporate ESG issues into investment analysis and decision-making processes.
- We will be active owners and incorporate ESG issues into our ownership policies and practices.
- We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- We will promote acceptance and implementation of the principles within the investment industry.
- We will work together to enhance our effectiveness in implementing the principles.
- We will each report on our activities and progress towards implementing the principles.
Audax has a long history of maintaining sound ESG practices and views socially responsible investing as central to its greater mission of delivering attractive investment returns. With more than $30 billion of capital raised to date, Audax’ two primary business units – Private Equity and Private Debt – utilize a thorough and time-tested investment process that, since the firm’s inception, has covered numerous ESG considerations.
As part of its ESG Principles, Audax is committed to cultivating and advancing diversity, equity, and inclusion across our firm and the businesses with which we partner. Diversity, equity, and inclusion are foundational to attracting and retaining the best people, and the best people are foundational to success. Audax is proud to partner with a number of nonprofit organizations committed to DEI, including: AboveBoard, Institutional Limited Partners Association, Management Leadership for Tomorrow, ModernGuild, Pride in Our Workplace, and The Robert Toigo Foundation.
About Audax Group
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. With more than 300 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
About Principles for Responsible Investment
The Principles for Responsible Investment (PRI) is the world’s leading proponent of responsible investment. Supported by the United Nations, it works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. Launched in New York in 2006, the PRI has grown to more than 4,700 signatories, managing over $121 trillion AUM. For more information visit www.unpri.org