BlackRock Partners With Apex to Bolster ESG Data in Private Markets
October 18 2022 - 6:18AM
Dow Jones News
By Fabiana Negrin Ochoa
BlackRock Inc. and financial-services provider Apex Group Ltd.
are partnering up to tap the rising need for environmental, social
and governance data in private markets.
Apex said Tuesday that it is collaborating with eFront, a
specialized business unit within BlackRock Solutions, to provide
ESG data-consulting services. The partnership aims to "help bolster
the creation of a private-market benchmark for ESG metrics," and
further ESG data standardization, Apex said in a release.
The move comes as others also look to address the challenge--and
opportunity--of improving sustainability data in the private-equity
space, where a lack of standardized collection and reporting
frameworks has made it hard for general partners to ensure that
portfolio companies are advancing ESG goals, BCG analysts say.
S&P Global Market Intelligence last month teamed up with ESG
platform Novata to offer data solutions for private-market
investors, while Carlyle Group Inc. last year co-founded an
initiative aimed at creating standardization in data reporting. The
ESG Data Convergence Initiative now has more than 200 members
representing over $24 trillion in assets.
Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com
(END) Dow Jones Newswires
October 18, 2022 06:03 ET (10:03 GMT)
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