EQT, Summa, LGT sign up to UN's SDG Impact initiative

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EQT, Summa Equity and LGT have joined the UN's Sustainable Development Goals Impact (SDG Impact) initiative, which is intended to define common global standards for measuring the societal and environmental impact of investments.

Announced in October 2018, SDG Impact was developed by the United Nations Development Programme alongside the Impact Management Project (IMP), a forum of around 2,000 investment firms and practitioners.

EQT said in a statement that it would look to take a leading involvement in the development of the SDG Impact measurement system.

The development comes two months after EQT co-founder Jan Ståhlberg left the firm to launch Trill Impact Fund in partnership with Nordic LP Nordea Asset Management.

Since the start of 2017, a number of high profile buyout houses have announced vehicles dedicated to impact strategies, including Bain Capital, TPG Growth, Partners Group and KKR. A number of European-domiciled private equity houses at the lower end of the market have also closed impact-dedicated funds, including Palatine Private Equity, Bregal Investments and Bridges Fund Management.

Bridges has played a prominent role in the development of IMP from an early stage through its Bridges Impact+ team. The Unquote Private Equity Podcast recently spoke to the firm's co-founder and partner, Michele Giddens, about the project and wider developments in the impact investment space.