Promotion of non-ESG funds may undermine general partner credibility, says PwC

Large LPs, particularly within the Nordic nations, are completely removing non-ESG investments from their portfolio and stating their aversion to engaging with GPs whose fund offerings are not purely ESG-oriented, PwC observes in a fresh report.

European private market ESG assets will rise steeply up to EUR 1.2tn, thereby accounting for 42.4 percent of the entire private markets industry's asset base, forecasts a fresh research by PwC Luxembourg.

Due to this rise, European private market ESG assets are expected to account for 27.2 and 42.4 percent of the entire private market's asset base in some four years, whilst they made 14.8 percent at the end of 2020, the company's new 'EU Private Markets: ESG Reboot' survey states.

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