Freshfields Bruckhaus Deringer (‘Freshfields’) has acted for BNP Paribas, Societe Generale and Standard Chartered Bank, the joint sustainability coordinators in a subscription line financing to support the Private Equity strategy of PAG, a leading global investment firm.
The transaction was PAG Private Equity’s first sustainability-linked loan as part of its ongoing commitment to integrate ESG principles into its operations and investment process, and is among the first transactions of its type in Asia. It forms part of PAG’s overarching sustainability strategy by including a suite of KPIs, targets and principles, including:
- Managing ESG risks and opportunities within the investment and portfolio management processes
- Promoting the reduction of Greenhouse Gas (“GHG”) emissions by portfolio companies
- Promoting gender diversity among senior management at portfolio companies
- Promoting improved ESG governance at the portfolio companies
- Promoting ESG capacity-building at the corporate level at PAG Private Equity
The Freshfields team advising on the transaction was led by counsel Don Methven, supported by associates Rebecca Graves and Nathalie Leung.
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