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16 April 2019       Bloomberg

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Albourne Partners Ltd. has been around for a quarter-century and advises institutions who collectively invest more than $500 billion in alternative assets. So when Albourne this month, for the first time, made it mandatory for the roughly 650 hedge funds one of its teams monitors to answer questions about their approach to environmental, social and governance issues, it highlighted a shift the industry is struggling to cope with but can’t afford to ignore.

Steve Kennedy, the partner who leads Albourne’s ESG initiatives, said hedge funds can tackle the issue “from a lot of angles.” Albourne still has an optional questionnaire that hedge funds can choose whether to answer. The mandatory part comes when the firm is hired by an endowment or pension fund to conduct due diligence on a fund’s operational risks.