Founded in , we are majority-owned and managed by our Equity Partners and the Bridges Charitable Trust. We benefit greatly from the support, expertise and contact networks of the private equity companies that have backed us since inception, Apax Partners, 3i and Doughty Hanson. At the beginning of every investment, we work closely with the management team to identify and design an IMPACT scorecard that we track annually. IRIS metrics form an important part of the final scorecard, as do other customised KPIs tailored to the investee in question.
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For each material risk, we propose a mitigation plan in the Investment Committee paper, so that our investment decision is made with a holistic view of projected impact, and a day plan can be developed immediately post-investment. Thereafter, ESG issues are reviewed regularly at board meetings with investee companies, as well as at our own firm-level portfolio review meetings.
While some ESG opportunities can be defined pre-investment, many emerge during the investment period, through a process of regular interaction and learning with the company and its stakeholders. Alignment: A platform of distinct fund types allows us to match opportunities to the financial and impact expectations of a wide variety of investors.
The various funds which Bridges has developed are shaped differently: while all deliver impact alongside financial return, the funds differ in terms of the types of business models they back and the level of risk-adjusted financial returns they generate.
This approach also means that, increasingly, asset owners are allocating across our various funds, from different parts of their portfolio. Over the last 12 years, we have learned there are a wide variety of social or environmental needs that create commercial growth opportunities, with the potential to deliver positive impact alongside market-rate, or market-beating, financial returns.
For example, in the face of rising unemployment, we have backed training colleges, like Babington Business College, which are equipping the next generation with the skills to compete globally — an increasingly attractive proposition for both government contractors and private-pay customers.
While our funds differ in terms of the financial returns they generate for investors, all funds share a focus on spotting business models whose ability to generate impact creates a competitive advantage. Additionality: Understanding the true value-add is key to both social and commercial performance. Our additionality analysis asks whether our target outcomes will occur anyway, without our investment. In this sense, additionality defines our impact, allowing us to tell our investors whether their funds are creating societal value.
Our decision to focus investment on these regions was rooted in the belief that there was insufficient growth capital readily available to support businesses in these markets. In other words, investor additionality was the driving force for developing Underserved Markets as a theme in the first place.
More often, our additionality is due to our integral role in structuring or even creating an investment from scratch: in each of our funds, we look to incubate a number of businesses in-house in which case, our investor- and investment-level additionality become one and the same.
Our Social Sector Funds provide flexible capital to sustainable, often profitable, business models that cannot attract commercial capital due to their structure or target market, or both. In this sense, investor additionality is more readily assumed, since such investees could not rely on the mainstream capital markets to support their growth. However, in co-investment situations, we still consider the extent to which Bridges leads the development of the investment and therefore the leverage of additional capital , which signals an even higher level of investor-level additionality.
Our methodology is rooted in our day-to-day experience and based on over a decade of learning, combining idealism and realism. We hope it can serve as a useful contribution and welcome feedback. I accept. Agenda Initiatives Reports Events About. Report Home 1. Preface 2. Introduction to the Mainstreaming Impact Investing Initiative 3.
Democratizing Impact Investing for Retail Investors 4. Acknowledgements and About the Authors. Bdaily News. Theory and Empirical Research in Social Entrepreneurship. Edward Elgar Publishing. ISBN Responsible Investment in Times of Turmoil. The Guardian. Retrieved 18 November Gower Publishing, Ltd.
Retrieved 3 November London Business School. Wharton School of the University of Pennsylvania. The Wall Street Journal. Retrieved 7 January Financial Times. Categories : Private equity Social finance Social entrepreneurship Financial services companies based in London Financial services companies established in establishments in England Private equity firms of the United Kingdom. Hidden categories: Articles with short description Short description is different from Wikidata Articles with a promotional tone from June All articles with a promotional tone.
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