Spring
2021
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Founding GPs and LPs meet for the first time to discuss challenges with ESG data collection in private markets, and brainstorm potential solutions
September
2021
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EDCI publicly launched with 7 GPs and 9 LPs representing $4 trillion AUM
October
2021
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Initial insights shared from BCG’s analysis of pilot ESG data of founding partners shared
January
2022
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EDCI marks a milestone of 100 initiative participants (both GPs and LPs), representing $8 trillion of AUM
April
2022
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First data collection cycle with ~100 GPs providing data for ~1,900 portfolio companies
April
2022
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First set of GP–LP working groups formed, with four groups covering: external engagement, private credit, technology platform, and operating model
May
2022
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Steering committee begins its first annual sprint, reviewing the initiative’s inaugural year
June
2022
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Steering committee votes to rename the initiative from EDCP (ESG Data Convergence Project) to EDCI, reflecting the ongoing nature of the initiative
July
2022
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EDCI marks a milestone of 200 initiative participants, of which 134 GPs and 66 LPs, representing $22 trillion of AUM

What we do

What | The ESG Data Convergence Initiative is an open partnership of private equity stakeholders committed to streamlining the private investment industry’s historically fragmented approach to collecting and reporting ESG data. Our mission is to create a critical mass of meaningful, performance-based, and comparable ESG data from private companies.

Why | We seek to overcome the disparate constellation of ESG performance assessment frameworks and tools in the private equity industry. Converging as an industry on consistent definitions allows general partners (GPs) and their portfolio companies to benchmark their position and generate progress toward ESG improvements while enabling greater transparency and more comparable portfolio information for limited partners (LPs).

How | To create this convergence, the Initiative’s participating firms agree to report on a core set of ESG metrics drawn from existing frameworks. The categories include greenhouse gas emissions, renewable energy, board and C-suite diversity, work-related injuries, net new hires, and employee engagement. GPs track the agreed-upon metrics for their portfolio companies and report them in a standardized format. The data are shared directly with invested LPs, and aggregated into an anonymized benchmark by Boston Consulting Group (BCG), which is supporting the overall effort.

Who | The EDCI’s members include 250+ GPs and LPs representing ~$25 trillion in assets under management. In addition, a number of investment advisers and consultants are aligned with the effort.

ESG categories & metrics

GHG Emissions
Renewable Energy
Diversity
Work-Related Injuries
Net New Hires
Employee Engagement
General Partners

GPs struggle with a mounting volume of bespoke ESG data requests from their LPs, while their underlying portfolio companies navigate an increasingly complex set of ESG frameworks. In GPs’ interaction with current or prospective portfolio companies, they have been unable to draw on meaningful private market data to develop an understanding of their own relative performance on key dimensions.

The EDCI helps GPs address these challenges. It simplifies their process of reporting to LPs by using standard definitions and templated methods, and provides them with benchmark-driven insights into how their portfolio companies compare to their peers.

Limited Partners

LPs and investment managers have historically been unable to see meaningful, performance-based, and comparable ESG data across their portfolios.

The EDCI provides LPs with greater transparency on their portfolios by enabling industry-wide convergence on ESG metric collection and data submission. In addition, LPs can more effectively engage with their GPs based on an understanding of GP performance relative to the broader industry.

Latest updates from the EDCI

What our members are saying

“This is not a new framework or standard; it’s about harnessing the collective energy of investors to converge on existing ESG metrics. The intention is not to give a score or a ranking, but instead to provide better information about progress over time.”

Meg Starr
Global Head of Impact, Carlyle 

“Over the long term, we believe the initiative will help companies get rewarded for improved ESG performance. Converging on common ESG metrics will highlight companies’ progress in a transparent, quantitative way.”

Julia Jaskolska
Lead ESG & Co-Investments, CalPERS

“Through this collaboration, we expect to push toward comparable ESG performance measurement and wider adoption of ESG as an integrated objective of PE investments.”

Peter Branner
Chief Investment Officer, APG

“By supporting the ESG Data Convergence Initiative, we are committed to achieving full ESG transparency. PGGM, as a member of the ESG Metrics Steering Group, will play a role in driving the private equity market toward making more and better ESG disclosures.”

Eric-Jan Vink
Head of Private Equity, PGGM

Current EDCI members

Currently, 250+ total members (160 GPs and 92 LPs/IMs) have committed to the EDCI, representing ~$25T USD of AUM worldwide.

Participating General Partners

160 Partners
  • Carlyle (Co-Chair)
  • Accel-KKR
  • Advent Partners
  • AE Industrial Partners
  • AEA Investors LP
  • Affinity Equity Partners
  • AG International
  • Alantra Private Equity
  • Ambienta Sgr
  • American Industrial Partners
  • Apollo Global Management
  • Appian Capital Advisory LLP
  • Ara Partners
  • ARDIAN
  • Ares Management
  • Artá Capital SGEIC
  • Astorg
  • Athena Ventures
  • Audax Private Equity
  • Australis Partners Advisers
  • Avista Capital Partners
  • Axcel Management
  • Baring Private Equity Asia
  • Base10 Partners
  • BC Partners
  • Birch Hill Equity Partners
  • Blackstone
  • Blue Earth Capital
  • Blue Horizon Corporation AG
  • Blue Wolf Capital Partners
  • Bregal Investments
  • Bridgepoint Group Plc
  • Capital Mazapil
  • CapMan
  • Centerbridge Partners
  • CenterOak Partners
  • Cerberus Capital Management
  • Cinven
  • Cornell
  • Court Square Capital Management
  • Crestview Partners
  • CVC
  • Cycle Capital
  • Denham Sustainable Infrastructure
  • DPE Deutsche Private Equity
  • EIG
  • EMK Capital
  • Energy Impact Partners
  • EQT AB
  • Equistone
  • Everstone Group
  • Exponent
  • FCDE
  • Fifth Wall
  • Firmament
  • Forgepoint Capital
  • Frazier Healthcare Partners
  • Freshstream
  • Frumtak Ventures
  • FullCycle Climate Partners
  • Gallant Capital Partners, LLC
  • GENUI
  • Georgian
  • GK Ventures
  • Global Infrastructure Partners
  • Goldman Sachs Asset Management
  • Grain Management LLC
  • Graphite Capital
  • GREENPEAK Partners
  • GTCR
  • Gulf Capital
  • Hermes GPE
  • Hg
  • Huron Capital
  • Iberis Capital
  • IDG Capital
  • IK Partners
  • Inflexion
  • Insight Partners
  • InterAlpen Partners
  • Investindustrial
  • Keensight Capital
  • Kinderhook Industries
  • KLAR Partners
  • L Catterton
  • Lime Rock New Energy
  • Lindsay Goldberg
  • Linzor Capital
  • LongRange Capital
  • Madison Dearborn Partners
  • Manulife Investment Management
  • Mayfair Equity Partners
  • McRock Capital
  • Meanings Capital Partners
  • Mesirow Private Equity
  • MLS Power
  • Montagu Private Equity
  • NAZCA CAPITAL
  • NB Renaissance
  • Next World LLC
  • Nordic Capital
  • NorthEdge
  • Norvestor
  • Oakley Capital Ltd
  • Oaktree Capital Management
  • Onex
  • Orion Resource Partners
  • PAG
  • Palatine Private Equity
  • Palladium Equity Partners
  • Paragon Partners
  • Parcom Capital Management
  • Permira
  • Pioneer Point Partners
  • Pollen Street Capital
  • Portobello Capital
  • PowerPlant Partners
  • Quadriga Capital
  • Quantum Energy Partners
  • Regeneration.vc
  • Rivean Capital BV
  • Riverstone Holdings LLC
  • Roc Partners
  • Samara Capital
  • Sandbrook Capital
  • Searchlight Capital Partners
  • SkyKnight Capital
  • STG
  • Summa Equity
  • TA Associates
  • Tailwind Capital
  • The Jordan Company
  • The Lightsmith Group
  • The Riverside Company
  • The Rohatyn Group
  • The Westly Group
  • Tikehau Capital
  • Tishman Speyer Properties
  • TowerBrook
  • Trill Impact
  • TZP Group
  • Unison Capital
  • UpperStage Capital
  • Veritas Capital
  • Vista Equity Partners
  • Vitruvian Partners
  • Waterpoint Lane
  • Weatherford Capital
  • Wellington Management
  • Welsh, Carson, Anderson & Stowe
  • Wind Point Partners

Participating Limited Partners & Investment Managers

92 Partners
  • California Public Employees' Retirement System (CalPERS) (Co-Chair)
  • Abrdn
  • Adams Street Partners
  • AlpInvest Partners
  • AP3
  • AP4 (Fjärde AP-fonden)
  • AP6
  • APG
  • Arcano Partners
  • Argentum Asset Management
  • Azalea Investment Management Pte. Ltd.
  • Border to Coast Pensions Partnership
  • Bregal Private Equity Partners
  • British Columbia Investment Management Corporation (BCI)
  • Cambridge Associates
  • Cambridge University Endowment Fund
  • Canada Post Pension Plan
  • Capital Innovations
  • Church Commissioners for England
  • Church of England Pensions Board
  • Citibanamex Afore
  • COMMITTED ADVISORS
  • CPP Investments
  • Cubera Private Equity
  • Dai-Ichi Life Insurance Company, Limited
  • Employees’ Retirement System of Rhode Island
  • Enhanced Capital
  • Esses Capital Partners
  • GCM Grosvenor
  • Glendower Capital
  • Golding Capital Partners
  • GroFin
  • HarbourVest Partners
  • Harvard Management Company
  • HSBC
  • IH International Advisors
  • Investment Management Corporation of Ontario (IMCO)
  • Jada
  • Japan Investment Corporation
  • Japan Post Bank
  • Japan Post Insurance
  • Kinneret Group
  • KIRKBI A/S
  • LGPS Central Limited
  • LGT Capital Partners
  • Local Pensions Partnership
  • Makena Capital Management
  • Menora Mivtachim
  • Mercer
  • Mizuho Bank
  • Moonfare
  • Morgan Stanley
  • Neuberger Berman
  • New York State Common Retirement Fund (NYSCRF)
  • Nippon Life Insurance Company
  • Nomura Asset Management
  • Norinchukin Bank
  • Norinchukin Zenkyoren Asset Management(NZAM)
  • Northleaf Capital Partners
  • OPTrust
  • Pantheon Ventures
  • Pathway Capital Management
  • Pensioenfonds PGB
  • Performance Equity Management
  • PGGM
  • PSP Investments
  • Quinbrook Infrastructure Partners
  • Rabo Investments
  • San Francisco Employees' Retirement System (SFERS)
  • Schroders Capital
  • SEB Private Equity
  • StepStone Group
  • Sumitomo Mitsui Trust Bank
  • SwanCap Investment Management S.A.
  • The Guardian Life Insurance Company
  • The Pictet Group
  • Third Swedish National Pension Fund
  • UBC Investment Management Trust Inc.
  • Unigestion
  • Universities Superannuation Scheme
  • University Pension Plan Ontario
  • Washington State Investment Board
  • Wellcome Trust
  • Willis Towers Watson (WTW)
  • Wilshire
  • YIELCO Investments AG