Top 50 accounting & advisory firm Frazier & Deeter (FD) and Novata, a public benefit company and technology platform, established a non-exclusive strategic partnership.

The collaboration was formed to assist private equity firms and portfolio companies in understanding and identifying important key performance metrics that meet expanding stakeholder and regulatory disclosure demands. 

Novata is the leading ESG data management platform designed exclusively for the private markets, backed by a coalition that includes the Ford Foundation, S&P Global, Hamilton Lane, and Omidyar Network, as well as more than a dozen private equity companies and pension funds. 

Together, FD and Novata will use their respective advisory and technology solutions to produce best-in-class disclosures to assist mid-market-focused private equity firms in responding to evolving ESG standards.

Robert Woosley, FD’s National Private Equity Practice Leader, said: 

"Novata has designed a full-service experience to address the urgent need for a simple, yet customised, technology platform to make ESG data reporting and collection possible for the private markets. The ESG landscape is rapidly evolving, and private equity firms have struggled with effective ways to track ESG initiatives in their operations and with their portfolio companies. We are pleased to partner with Novata as we aim to deliver effective ESG guidance, tools, and consulting solutions for the alternative asset industry.”  

Scott Kennedy, President at Novata, said: 

"Frazier & Deeter is a nationally ranked CPA and advisory firm serving the needs of the private equity industry across the country. As ESG continues to have a growing influence on business strategy across portfolios, we look forward to working closely with FD as we seek to deliver simple yet effective tools for our clients to identify, track and store ESG data.”  

Missy Munoz, Global ESG Practice Leader at Frazier & Deeter, said: 

"Novata is an innovative ESG offering backed by private market leaders. In support of our broad range of public and private global entities, we are excited to partner with Novata as a best-in-class option, helping us to effectively deliver solutions that meet client needs – wherever they are in their ESG journey.”  

Paul Yett, Director of ESG & Sustainability at Hamilton Lane, said: 

"It’s exciting to see the partnership between FD and Novata. Limited partners increasingly and correctly expect their investments not only to produce attractive risk-adjusted financial returns but also to achieve environmental and social and governance objectives. The combined expertise of FD and Novata will help General Partners better implement ESG initiatives with their funds and their portfolio companies; thereby enabling them to track, monitor, and manage their environmental impact and provide top-quality ESG data to private market participants.” 

Lorraine Spradley Wilson, Chief Impact Officer and Head of ESG Methodology at Novata said: 

"There is growing pressure for companies, both private and public, to showcase ESG data to their investors, employees, local communities, and more. Our partnership with FD will further help simplify and accelerate ESG data collection in the private equity industry.” 

Source: Frazier & Deeter

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