UK Stewardship Code

In July 2010 the UK Financial Reporting Council (“FRC”) issued the UK Stewardship Code (“Code”). The Stewardship Code aims to enhance the quality of engagement between institutional investors and companies to help improve long-term returns to shareholders and the efficient exercise of governance responsibilities.

ICG is a signatory to the Code. Our inclusion was announced by the FRC on 10 March 2022, at which point we published our first Stewardship Report.

UK Stewardship Code 2020

Statement of Compliance and Disclosure

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Writing to our stakeholders in the report, Benoît Durteste, Chief Investment Officer and Chief Executive Officer, said:

We are pleased to publish the first report by ICG detailing how we implement the UK Stewardship Code 2020. This report provides an overview of our stewardship approach and sets out how we have applied the Code in the twelve months to 30 September 2021.

We plan to report annually on our activities in line with the Code’s requirements. These reports will be publicly available on our website, and will supplement our current disclosures and reporting. As a UK-listed company and member of the FTSE 100, we produce an Annual Report and interim trading updates, along with an annual Sustainability and People report (previously known as our Responsible Investing report), which are all also publicly available on our website. In addition, we provide regular updates on our funds and investments to our clients on a private basis.

As a responsible manager of our clients’ capital, ICG has a clear purpose: to provide capital to help companies develop and grow. We do this by investing across the capital structure, with the vast majority of our investments being in unlisted companies. The level of direct influence we have over our portfolio companies varies substantially between investment strategies given the range of different types of capital we are able to provide. However our overall belief is consistent: that we are active stewards of our clients’ capital, and that we have an obligation to systematically incorporate a wide range of considerations into each investment decision we make. Amongst these considerations are environmental, social and governance (ESG) factors. This is not new for ICG: we have long believed that carefully considering these matters as part of our investment process will lead to longterm value creation for our clients.

I hope you will find this report informative, and we look forward to continuing to focus on stewardship of our clients’ capital and our portfolio companies.

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Benoît Durteste, CEO and CIO, ICG
Benoît Durteste

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