Persefoni and Oak Hill Advisors Partner to Measure and Advance an Industry-Wide Approach to Comparative Benchmarking
Oak Hill Advisors partners with Persefoni to further its sustainability initiatives and ESG commitments.
Published June 15, 2022
[TEMPE, AZ.] Persefoni and Oak Hill Advisors, L.P. (“OHA”) partner to advance an industry-wide approach to comparative financed carbon emission benchmarking.
The partnership between Persefoni and OHA represents a critical development in solving the financed emissions challenge within alternative credit and the benchmarking tool developed through this partnership will be made available to Persefoni’s customers via its Climate Impact Benchmarking Module.
Leading alternatives investment firm OHA partnered with Persefoni to further its sustainability initiatives and ESG commitments. Utilizing Persefoni’s platform, which is built on the Partnership for Carbon Accounting Financials (PCAF) standard, OHA was able to measure the financed emissions of its flagship liquid credit fund, OHA Diversified Credit Strategies Fund.
In partnering with Persefoni to develop index benchmarking functionality, OHA is now able to disclose its financed emissions performance against an appropriate benchmark to its investors delivering a high level of transparency. The tool has shown that the overall emissions of the fund are lower than the index, illustrating OHA’s thoughtful approach to integrating climate risk considerations into its portfolio construction process.
Ryan Miller, SVP and GM, Financial Services at Persefoni, said: “We’re proud of our partnership and are appreciative of the vital support OHA provided in our development of the benchmarking functionality. At Persefoni, we have a vision that investors will disclose their carbon footprint in line with financial returns. Being able to present that footprint in the same manner as returns, via a comparison to a benchmark, is incredibly valuable in making this vision a reality.”
Jeff Cohen, Managing Director, Head of ESG and Sustainability at OHA, said: “It has been a great experience working with Persefoni to partner on this benchmarking tool, which represents a significant step forward for the entire investment industry as it seeks to reduce its carbon emissions exposure. We have been able to achieve a level of emissions transparency with our investors and Persefoni’s proprietary carbon accounting software and platform was instrumental in achieving this outcome.”
Persefoni Inc. is a leading Climate Management & Accounting Platform (CMAP). The company's Software-as-a-Service solutions enable enterprises and financial institutions to meet stakeholder and regulatory climate disclosure requirements with the highest degree of trust, transparency, and ease. As the ERP of Carbon, the Persefoni platform provides users a single source of carbon truth across their organization, enabling them to manage their carbon transactions and inventory with the same rigor and confidence as their financial transactions. Learn more at www.persefoni.com.
ABOUT OAK HILL ADVISORS
OHA is a leading alternative investment firm with $57 billion of capital under management, as of March 31, 2022, across its private, distressed, special situations, liquid, structured credit, and real asset strategies. OHA has generated attractive risk-adjusted returns over its more than 30-year history by specializing in performing and distressed credit-related investments in North America, Europe, and other geographies. OHA employs more than 300 people globally and is headquartered in New York, with primary offices in London, Sydney, Hong Kong, Luxembourg, Fort Worth, and San Francisco. For further information about OHA, please visit oakhilladvisors.com
On December 29, 2021, OHA was acquired by T. Rowe Price Group Inc., a global investment management organization. OHA operates as a standalone business within T. Rowe Price, has autonomy over its investment process, and maintains its team and culture. The acquisition, which was announced on October 28, 2021, accelerated T. Rowe Price's expansion into alternative credit markets, complementing the firm’s existing global platform and ongoing strategic investments in its core investments and distribution capabilities.