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Inherent Opinion
Inherent Group – 1H21 Impact Report
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World Economic Forum Op-Ed
Investors: the time for net zero is now As investors, we are making our own commitments to reach net-zero emissions in our portfolios. We do so not only because of the climate emergency, but also after considering the incredible investment opportunities offered by a decarbonized global economy. In 2020 alone, the market capitalization of clean
Tony Davis discusses Inherent’s ESG approach on White Collar Briefly
Perkins Coie Partner Kevin Feldis discusses Inherent Group’s ESG approach and framework on episode 25 of White Collar Briefly. Key topics include measuring ESG, assessing corporate culture, improved disclosure and the SEC’s increased focus on ESG within the division of enforcement. Click here to listen.
Inherent Group’s UNPRI Case Study
The PRI (Principles for Responsible Investment) works with investors, industry associations and service providers to innovate and educate in incorporating environmental, social and governance factors into the investment decision-making process. As part of PRI’s hedge fund investment case study initiative, Inherent Group profiled an example of how we use the Sustainable Development Goals to source
Net Zero Asset Managers Commitment
Today Inherent Group joined 29 other asset managers globally in the Net Zero Asset Managers Commitment. The commitment recognizes “an urgent need to accelerate the transition towards global net zero emissions and for asset managers to play our part to help deliver the goals of the Paris Agreement and ensure a just transition.” Read more
Using ESG to Enhance Fixed-Income Returns: The Case of Inherent Group
At Inherent Group we aim to earn above-market risk-adjusted returns in businesses that are environmentally and socially as well as financially sustainable. We apply environmental, social, and governance (ESG) analysis throughout every stage of our investment process across the entire corporate capital structure. In our experience, this approach has produced differentiated insights into investment opportunities
Inherent PM Nikhil Mirchandani on ESG and Credit
Asked by Bloomberg Markets what will be the next big ESG issue, Inherent Group PM Nikhil Mirchandani suggested: “While incorporating ESG into public and private equity investing has gained considerable momentum, we expect to see it adopted more broadly in public credit investing next year. We believe otherwise diligent and thoughtful credit investors often omit
Letter to DOL urging withdrawal or modification of RIN 1210-AB95
In July 2020 Inherent Group CEO/CIO Tony Davis wrote to Assistant Secretary Wilson regarding the proposed Department of Labor Employee Benefits Security Administration’s rule, Financial Factors in Selecting Plan Investments, Regulatory Identifier Number (RIN) number 1210-AB95. He expressed concern that the proposed rule would dissuade fiduciaries from assessing ESG risks and opportunities in their investments.
Inherent’s CEO Tony Davis with Ted Seides on Sustainable Investing
In June 2020 Ted Seides invited CEO/CIO Tony Davis to discuss the formation of Inherent Group and its approach to investing as part of the Capital Allocators series on Sustainable Investing. The conversation covers Tony’s early career experience at Goldman Sachs, key lessons from twenty years at Anchorage Capital, his retirement and philanthropic work in
Inherent’s PM Nikhil Mirchandani on ESG credit investing with CFA Society
In May 2020, CFA Society New York’s Sustainable Investing Group invited Nikhil Mirchandani to discuss Inherent’s investment approach, which incorporates Environmental, Social, and Governance (ESG) factors into every stage of its process from sourcing to underwriting to engagement and ongoing monitoring. Learn more about Inherent’s differentiated process that incorporates an ESG lens not just investing
Inherent’s CEO Tony Davis on HBS Climate Conference Panel
In a Harvard Business School (HBS) panel discussion March 4, 2020 titled Uncovering and Pricing Climate Risk in Long-Term Investments moderated by George Serafeim of HBS, Wendy Cromwell of Wellington, Tony Davis of Inherent Group, Audrey Choi of Morgan Stanley, and Luca Albertini of Leadenhall Capital discuss their significant work and various approaches to identifying and
Inherent Group Joins Investors Urging the Business Community to Lead on COVID-19 Response
Inherent Group, LP is among the group of 250+ investor signatories representing over $6.4 trillion in assets under management with global exposure across capital markets to the Investor Statement on Coronavirus response led by Domini Impact Investments LLC, Interfaith Center on Corporate Responsibility, and the Office of the New York City Comptroller Scott M. Stringer:
Hedge Funds Push Deeper Into ESG as More Products Come Online
Inherent Group is featured in this article on alternative strategies and ESG integration: For Tony Davis, the route to ESG investing came after a successful run as the co-founder of Anchorage Capital Group… Davis describes [Inherent Group] as an opportunistic investor looking for mispricings with two guiding missions. One is “to show when you incorporate
ESG as a Value-Creation Tool for Active Investors: A Profile of Inherent Group
At Inherent Group, we integrate an ESG framework throughout our investment process in pursuit of superior risk-adjusted returns. This article for the Journal of Applied Corporate Finance offers a detailed look at why we take this approach and how it works in practice. The article was originally published in the Journal of Applied Corporate Finance
The Sustainability Business Case: Changing the Conversation between Companies and Investors
Companies and investors are increasingly engaging on sustainability. The recent moves on climate issues made by Royal Dutch Shell, Glencore, and BP show how investor pressure (and in particular the Climate Action 100+ investor group) is helping shape corporate behavior. Last month, for the first time in its 30-year history, the nonprofit sustainability organization Ceres
Inherent Innovation: Financing Education via Pursuit Bonds
Inherent Foundation helped create and invested in an innovative financing structure called Pursuit Bonds, which are helping provide workforce training to those with great potential and great need via the Pursuit organization. ‘So far, the graduate placement rate exceeds Inherent’s assumptions, the default rate is lower, and the average salary of the repaying graduates is
The Third Dimension
Over the coming year, global capital markets may face a trio of torpedoes in the water: slowing growth, rising interest rates, and net aggregate withdrawal of liquidity by the world’s major central banks. Value-oriented managers are looking forward to bargains as capital is reallocated through the cycle. Unlike prior cycles, however, we believe that success
Milken Institute Panel: “The Evolution of ESG and Asset Management”
On December 4, 2018, Tony spoke at the Milken Institute’s London Summit on a panel entitled “The Evolution of ESG and Asset Management.” The panel, moderated by Marisa Drew of Credit Suisse, included representatives from CDPQ London, Shenkman Capital, and the UK Local Authority Pension Fund. The video is available here. Tony describes how Inherent
SDG Investor Seminar
On December 3, 2018, Tony spoke at the Morgan Stanley SDG Investor Seminar. (The SDGs are the UN’s Sustainable Development Goals.) Tony discussed how Inherent integrates the SDGs into our investment process, primarily using them as a way to identify investment ideas aligned with critical global megatrends. He also explained how the firm maps its