Intermediate Capital Group has become the latest fund management group to appoint a dedicated responsible investing officer.
The fund group, which manages some €33.6bn (£30.3bn) in assets, has recruited Eimear Palmer, who was at The Carlyle Group until last month, responsible for managing the Carlyle Europe Partners’ enhanced ESG framework.
In a statement announcing the appointment, Rosine Vitman, managing director and head of European Portfolio Monitoring at ICG, said the appointment was testament to the importance that ESG issues play in the company’s investment approach.
“Identifying and assessing ESG issues is a core component of our investment process,” she said. “By ensuring these issues are well-understood and managed over the lifetime of our investments, we can minimise downside risks and maximise opportunities, creating value for our clients.”
Vitman said that Palmer’s experience in working with corporations on ESG matters would add “significant strength” to the group’s sustainability approach.
Palmer spent more than seven years at Carlyle and had worked as a manager in the private equity, audit and assurance division of consulting firm KPMG prior to that.
Speaking on her appointment at ICG, she said the company was appealing due to its rapid growth and “tremendous reputation” for flexible investment solutions that are long-term focussed.
She added: “I look forward to utilising my ESG knowledge and skills to support ICG as we engage with portfolio companies and add value to our investment process.”
ICG will celebrate its 30th anniversary next year and has the majority of its investments in closed-ended investment funds.