At Providence, being a good corporate citizen is core to our investment philosophy and we believe that it ultimately creates more attractive returns for our investors.
We believe it is important to consider the environmental, social and governance (ESG) implications of our investments. Engrained in this approach is not just about being good corporate citizens, it is also about being responsible stewards of the capital committed to us by our investors.
Providence is a founding member of the American Investment Council (AIC), a trade group representing private equity firms. Working with the AIC, we adopted a set of comprehensive guidelines that incorporate environmental, health, safety, labor, governance and social issues into our investment decision-making process and ownership activities.
Transparency and Disclosure
At Providence, we also work with our portfolio companies to promote transparency. We strive to ensure that our investors, employees, portfolio companies and all parties with whom we do business can rely on us to operate in a responsible and ethical manner. We have a deep commitment to professionalism, fairness and integrity in all of our business dealings.
In November 2007, Sir David Walker and the British Private Equity and Venture Capital Association (BVCA) led an effort to craft Guidelines for Disclosure and Transparency in Private Equity. That publication, which is also known as the “Walker Report,” made specific recommendations for improving the level of public disclosure by private equity firms operating in the United Kingdom. Because we believe in the importance of enhancing disclosure and transparency within the private equity industry, Providence voluntarily conforms to those recommendations. The Providence portfolio companies that fall under these guidelines can be found here.
At Providence, we believe following these guidelines affirm our long-standing commitment to and practice of these principles. We believe following these principles can positively influence our investment returns and are consistent with investing for growth.