...and is probably not Impact --- Earlier this year, we wrote on the new initiative to collect data and report on the ESG characteristics of private equity funds, supported by Boston Consulting Group (BCG). The effort to date has enlisted 105 general partners, investing in “nearly 2,000 underlying portfolio companies”. Their overall findings so far: “On average, privately owned companies are behind their publicly owned peers on key climate and diversity metrics.” More specific examples: - “…private companies in the benchmark use significantly less renewable energy than public companies.” - “…gender diversity on the boards of private companies lags that of public companies, with 45% of private companies having no women on their boards, compared with just 12% of public companies.” Private equity investing is generally not impact investing (or ESG as this initial data shows), but impact investing is often private equity (or debt) investing. This type of analysis is helpful to see the significant differences between the two.