The NB Private Equity Impact Strategy primarily invests in direct and fund investments that seek to achieve positive social and environmental outcomes that are aligned with the United Nations Sustainable Development Goals (UN SDGs) and that also meet NB Private Equity’s traditional underwriting standards. Examples include the following:
Environmental
Social
INNOVACARE 2
SMART WIRES 1
Challenge: Grid constraints are growing globally due to aging infrastructure and increasing power demand, and the adoption and distribution of renewable energy is often limited by existing infrastructure. Contribution to Solution: Company’s modular power flow control solutions allow utilities to more effectively utilize existing transmission system capacity and help improve renewable energy integration into the grid. One of the Company’s customers, National Grid Electricity Transmission (NGET), named Smart Wires as the technology behind the world’s first large-scale use of power flow technology, unlocking 1.5GW of network capacity—enough transmission capacity to deliver renewable energy to 1 million homes and support the United Kingdom’s net-zero ambitions.*
Challenge: Aging demographic and associated health care costs, especially related to elderly and low-income dual-eligible populations. Contribution to Solution: Company is facilitating the provision of essential health services to an exclusively in-need patient base. Structure of the delivery model generally incentivizes the delivery of high-quality care that leads to better health outcomes over the long term. The Company managed Puerto Rico’s largest MA plan, reaching more than 267,000 MA members and over 305,000 Medicaid members. Anthem is acquiring the Puerto Rico subsidiaries of the Company, announced in February 2021.**
1 The Impact Fund invested in Smart Wires , in partnership with Lime Rock New Energy. Smart Wires designs, manufactures and deploys modular power flow control solutions that allow utilities to control power flows on their high-voltage transmission systems. 2 The Impact Fund invested in Innovacare, in partnership with Summit Partners and Athyrium. Innovacare is a managed care organization (MCO) delivering Medicare Advantage (MA) and Medicaid integrated health plans and clinical care models.
2021 ESG ANNUAL REPORT
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