In December 2024, New Private Markets was announced winner in the ‘Best Editorial Campaign’ category at the Aviva Investors Sustainability Media Awards.

The award was collected by Charles Avery (pictured left) and Toby Mitchenall (centre) of New Private Markets, and presented by Mark Versey, chief executive officer of Aviva Investors (right).

New Private Markets, PEI Group’s product covering sustainability in private markets, won the award based on its unrivalled coverage of impact-linked carried interest.

In sustainable investment – in particular impact investing – there is a growing trend of linking fund manager compensation to “extra-financial” impact outcomes. In private markets funds this increasingly means linking carried interest – a general partner’s share of profits – with impact targets.

New Private Markets took the position that the emergence of “impact-linked carry” was a significant development for the market. It raises some fundamental questions about fiduciary duty. It is also an opaque area where few actors have visibility over the whole of the market. The publication set out to increase transparency in this market to help investors understand what constitutes ‘market practice’ as it emerges, what conflicts of interest need to be managed, and what ‘green-washing’ risks exist.

Within the space of a year, the team published 17 articles on the topic ranging from analysis, exclusive news, to “how to” pieces.

Aviva Investors’ Sustainability Media Awards have been running for four years now, and “aim to celebrate the consistently high standards achieved by publications in the national press, institutional and wholesale investment trade media and specialist sustainability publications”, according to the organisation.

Entries were judged by a panel of experts led by Steve Waygood, chief responsible investment officer, Aviva Investors, comprising: James Alexander, chief executive officer of UK Sustainable Investment and Finance Association; Rhian-Mari Thomas, chief executive, Green Finance Institute; and Rose Easton, chief RI ecosystems officer for the  UK, Europe and IMEA, Principles for Responsible Investment (PRI).

New Private Markets was launched in 2022 to help institutional investors make better informed decisions in sustainable private markets investment, and to help managers of sustainable private capital funds connect effectively with investors.

Find out more about New Private Markets and access information on impact-linked carry here.