Providence believes our ability to deliver competitive performance for our investors in an uncertain world includes a proactive, disciplined approach to responsible investing.
We have built a framework that seeks to incorporate consideration of financially relevant responsible investing factors throughout the investment lifecycle. These processes help us to act as responsible stewards of investor capital.
Stewardship and Transparency
Since 2009, when Providence first adopted responsible investing guidelines, we have sought to create a process that incorporates a range of financially relevant governance, safety, labor, health, environmental and social issues into our decision-making processes and ownership activities. These guidelines grew out of a dialogue between members of the American Investment Council and a group of major institutional investors, under the auspices of the United Nations-supported Principles for Responsible Investment. Our responsible investing policy, adopted in 2022, reflects and supersedes our prior responsible investing guidelines.
Our responsible investing efforts are led by a committee comprised of members from across the firm and each of our offices. We believe that broad ownership and involvement in our initiatives is fundamental to integrating responsible investing considerations into our investment process.
Providence was proud to become a signatory to the ESG Data Convergence Initiative (EDCI) in 2024, which we believe will enable us to continue to (i) monitor responsible investing risks across the portfolio and (ii) support our portfolio companies in implementing appropriate strategies.
Diversity and Inclusion
At Providence, we recognize that diversity takes many forms, including race, ethnicity, gender, sexual orientation, religion, age, and socioeconomic status, among others. We celebrate these differences and are committed to a culture that values diversity of thought, experience and opinion. We believe that fostering a diverse team strengthens our firm and the quality of our decision making.
Our Diversity and Inclusion (D&I) committee leads Providence’s efforts to build and preserve a diverse culture within our firm and assist with the diversity efforts of our portfolio companies. We are proud partners of the organizations and sponsors of the initiatives below to promote and support a diverse workforce and increase the opportunities available to underrepresented members of our communities.
Employee and Community Engagement
At Providence, we believe that fostering a healthy culture requires a commitment to the ongoing development of our team and giving back to the communities where we live and work. Providence has several employee-led affinity groups that bring together and empower our team members. One such group, the Providence Women’s Roundtable, offers educational engagement opportunities to encourage our female colleagues and others in the financial services industry to confidently advance their careers.
We are proud of our philanthropic efforts and the organizations we partner with and support who are agents of positive change in our communities. Providence has supported Year Up since 2005 and played a key role in the foundation of the official Rhode Island Chapter. Year Up is an organization whose mission is to close the opportunity divide for underrepresented and underprivileged young adults by providing them access to career opportunities in their communities and classroom learning to further develop soft and hard skills to be successful on the job. Throughout our partnership with Year Up, we have hosted over 50 Year Up interns in our Providence and New York offices.
Organizations supported by Providence include:
Disclosures & Downloads
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The information provided herein is not backward looking unless otherwise stated, and is subject to change. Providence makes no claim that the investment vehicles it manages (“Funds”) or other products are Responsible Investing-focused, promote environmental or social characteristics, have Responsible Investing-based investment objectives, or that its business, Funds, or portfolio companies are compliant with any third party Responsible Investing principles. Providence focuses on investment returns and performance above any Responsible Investing or similar factors, however defined. While Providence may consider certain Responsible Investing principles as it has discussed herein, it makes no claim that it considers Responsible Investing or other factors in its investment decisions other than to the extent it determines them to be material financial factors. Providence may make statements herein about certain activities of its portfolio companies, but Providence makes no claim that it is responsible, in whole or in part, for such activities. Providence’s view of what “Responsible Investing” means is as discussed herein and Providence makes no claim that it comports with any particular definition of the term. Providence’s view of “Responsible Investing” is subject to change, and Providence may revise its Responsible Investing related activities, including ceasing any practices described herein, in whole or in part, at any time. It should not be assumed that all prior investments exhibit characteristics consistent with any Responsible Investing principles discussed herein or that all future investments will exhibit such characteristics. While Providence collects certain Responsible Investing -related information from its portfolio companies, there is no guarantee that it will act on such information or that such information will have any influence on its investment decisions or management of any portfolio company. Providence Public does not invest in accordance with the Responsible Investing processes discussed.