What is the Private Equity Growth Capital Council?
The Private Equity Growth Capital Council (“PEGCC”), based in Washington, DC, is an advocacy, communications and research organization and resource center established to develop, analyze and distribute information about the private equity industry and its contributions to the national and global economy. The PEGCC opened its doors in February 2007.
In addition to the specific guidelines that it follows while investing and monitoring the business of portfolio companies, GrowthGate, as a responsible corporate citizen, has opted to observe- and when applicable in the regulatory, social and working environment of a portfolio company- abide by, the guidelines designed by the Private Equity Growth Capital Council. These guidelines were developed by the Private Equity Growth Capital Council taking into account, among other inputs, the Principles for Responsible Investment and the UN Global Compact and the ten principles derived from it.
These guidelines are:
1. Consider environmental, public health, safety, and social issues associated with target companies when evaluating whether to invest in a particular company or entity, as well as during the period of ownership.
2. Seek to be accessible to, and engage with, relevant stakeholders either directly or through representatives of portfolio companies, as appropriate.
3. Seek to grow and improve portfolio companies for long-term sustainability and to benefit multiple stakeholders, including on environmental, social and governance issues, and to that end, work through appropriate governance structures (e.g. board of directors) with portfolio companies with respect to environmental, public health, safety, and social issues, with the goal of improving performance and minimizing adverse impacts in these areas.
4. Seek to use governance structures that provide appropriate levels of oversight in the areas of audit, risk management and potential conflicts of interest and to implement compensation and other policies that align the interests of owners and management.
5. Remain committed to compliance with applicable labor laws in the respective countries of portfolio companies; support the payment of competitive wages and benefits to employees; provide a safe and healthy workplace in conformance with applicable law; and, consistent with applicable law, respect the rights of employees to decide whether or not to join a union and engage in collective bargaining.
6. Maintain strict policies that prohibit bribery and other improper payments to public officials consistent with the U.S. Foreign Corrupt Practices Act, similar laws in other countries, and the OECD Anti-Bribery Convention.
7. Respect the human rights of those affected by investment activities and seek to confirm that investments do not flow to companies that utilize child or forced labor or maintain discriminatory policies.
8. Provide timely information to limited partners on the matters addressed herein, and work to foster transparency about activities.
9. Encourage portfolio companies to advance these same principles in a way which is consistent with their fiduciary duties.