Financial and industry data, research and news provider S&P Global Market Intelligence and ESG-focused technology platform Novata announced today a new strategic partnership aimed at providing private markets investors with a solution to collect and manage both financial and ESG data.
Under the new partnership, Novata’s platform will be made available for S&P Global Market Intelligence customers through iLEVEL, S&P Global MI’s alternative investments-focused portfolio monitoring software solution.
Andrew Eisen, head of Software Solutions at S&P Global Market Intelligence, said:
“Our customers want the best of both worlds: all of their important data, both financial and non-financial, in one place, as well as a solution that is tailor-made for the unique challenges of collecting ESG data within the private capital markets.”
S&P Global supported the launch of Novata last year, alongside the Ford Foundation, asset management firm Hamilton Lane, and social change-focused investment firm Omidyar Network. Developed in collaboration with general partners (GPs) and limited partners (LPs), the platform was designed to provide private markets investors with a solution for ESG measurement, data collection and benchmarking, and enable reporting on ESG data.
According to the companies, the new partnership enable GPs and LPs investors to manage their financial and ESG data all in one place and assess the financial materiality of ESG data, helping to help ease the process of collecting key data for their stakeholders.
Scott Kennedy, President and co-founder of Novata, said:
“Until this point, ESG data has existed in a vacuum and there hasn’t been a way to effectively connect ESG and financial data. Through this partnership clients will now be able to incorporate ESG dynamics into discount rates to better value companies.”