Business Wire

NY-NOVATA

Share
Non-Profit & For-Profit Leaders Form Novata, a New Technology Platform Designed to Streamline ESG Reporting Across the Private Markets

Today, Novata launched as an innovative new public benefit corporation and technology platform built to provide the private markets ecosystem, including private equity firms, with intuitive and effective Environmental, Social Good and Corporate Governance (ESG) measurement, data collection and benchmarking. Backed by a one-of-a-kind consortium, which includes the Ford Foundation , S&P Global (NYSE: SPGI) , Hamilton Lane (NASDAQ: HLNE) and Omidyar Network , Novata has created an independent, unbiased and flexible open architecture platform for the private markets to more consistently report on relevant ESG data. Directly informed by the needs of general partners and limited partners, Novata is designed to offer a vetted ESG reporting framework built around 10 critical metrics that consistently appear across leading ESG methodologies and a secure technology platform that provides a clearer view of ESG impact.

“The majority of the world’s economic activity is driven by private companies. It is their approach to environmental and social impact which will ultimately accelerate the ideals of inclusive capitalism,” said Alex Friedman, Chief Executive Officer of Novata. “Our solution is unprecedented because it marks the first time that a group of non-profit and for-profit leaders in social justice, financial data and the private markets have joined forces to solve for the ESG fragmentation that has plagued the public markets."

Lorraine Spradley Wilson, Chief Impact Officer and Head of Methodology at Novata, added, "With a simple and effective methodology, a secure technology-enabled data repository and unbiased benchmarking tools, private companies will be able to better meet and anticipate evolving investor and societal priorities.”

Novata’s solution consists of three core elements:

  • A streamlined ESG reporting framework that consolidates metrics which consistently appear across leading methodologies and may be immediately leveraged by any private company.
  • A secure contributory database where private companies can report against Novata’s framework, as well as other broadly used methodologies, and where owners and general partners control access to company data.
  • Objective, data-driven benchmarking against both private and public company peers, in addition to reporting tools to help private businesses gather key insights from their data and easily report to investors, regulators and other stakeholders.

Interest in ESG has been on the rise in the private markets, exemplified by private equity firms that are increasingly focused on effectively quantifying societal impact for investors. Yet ESG measurement remains challenging for the private markets, most of which is still in the early stages of quantifying sustainability and social impact. Novata is pioneering a mission-driven technology platform that will help private markets stakeholders—from private businesses, to lenders, suppliers and investors—avoid the fragmentation that has made effective and objective measurement of impact particularly challenging in the public markets, while also providing flexibility to meet business owners and general partners on their individual ESG pathways.

The following consortium members and founding partners serve as key advisors to Novata, helping ensure the solution continues to evolve as the private markets industry matures and expands.

  • “At the Ford Foundation, we are committed to supporting initiatives that enable meaningful progress toward a more inclusive form of capitalism,” said Darren Walker, President of the Ford Foundation. “Novata’s solutions give investors the ability to better allocate capital with more effective consideration of purpose, inclusiveness and sustainability. Their tools will be an essential part of creating an economy that works for all.”
  • “The global economic transition to net zero will be realized through a truly collaborative and aligned approach across both the public and private markets,” said S&P Global CEO Doug Peterson. “S&P Global is proud to be investing in much-needed innovation in ESG transparency and benchmarking in the private markets through the creation of Novata. S&P Global powers the markets of the future, and the private markets represent an area where we can help add transparency and evidence to support their workflows. This investment represents a step forward in working with the private equity industry with a purpose-built solution that supports ESG disclosure for the private markets.”
  • “Across the private markets, ESG is a complex problem that requires nuance to solve—it’s not one-size-fits-all,” said Erik Hirsch, Vice Chairman and Head of Strategic Initiatives at Hamilton Lane. “Novata is a neutral solution that allows private companies, including general partners, to collect and measure their data based on whatever metrics are most meaningful for them and their investors. At Hamilton Lane, we believe that best-in-class data and technology solutions will continue to drive the private markets forward, and we are excited to launch Novata alongside such an esteemed management team.”
  • “Private companies and their investors are a growing part of our economy and have a critical role to play in contributing to a more inclusive and sustainable capitalism. We believe Novata provides a solution that will enable private companies, general partners and limited partners to better manage their impact on people and the planet,” said Mike Kubzansky, CEO at Omidyar Network.

Beta customers will have access to the Novata technology platform before the end of the year. Broader access is planned to be available in early 2022.

A range of leading private equity firms serve as advisors to the Novata consortium, including Bridgepoint, Clearlake Capital Group, Kohlberg & Co., KPS Capital Partners, Lindsay Goldberg, Summa Equity, Thomas H. Lee Partners and The Vistria Group. Additionally, several of Novata’s general partner advisors—The Vistria Group, Clearlake Capital Group and Kohlberg & Co.—have made investments in support of Novata, with all proceeds from such investments to be donated to nonprofits.

“We’ve experienced firsthand the critical need for a more integrated approach to measuring ESG, as well as the challenges that arise without a framework and appropriate tools tailor-made to meet the unique needs of private equity sponsors,” said José E. Feliciano, Co-Founder and Managing Partner of Clearlake Capital Group and the Clearlake Impact Initiative. “We are committed to the tenets of responsible investing and believe the private markets have a responsibility to better manage and track ESG performance to not only generate strong investment returns, but to also make a positive impact on society and its future.”

Novata has also worked with a range of limited partners to design its solutions, as ESG is an increasingly important focus for them.

“Private equity assets are a fast-growing part of the markets and global economy, having increased by more than 150% in the last decade alone,” said Scott M. Stringer, New York City Comptroller. “And private equity investors need reliable access to accurate, material and relevant ESG data, from climate change and diversity, to worker transitions and business accountability—all of which are critical components of truly inclusive capitalism that creates long-term value for our pension beneficiaries.”

To learn more about Novata, visit the website , where private companies and general partners can indicate their interest in being early Novata customers, and watch the launch video here . Follow Novata on LinkedIn to keep up with the company’s latest news and views.

About Novata

Novata is a public benefit corporation created to help private equity firms and private companies navigate the ESG landscape by providing relevant reporting metrics, a contributory database to store information, and tools for analysis and reporting to key stakeholders, including limited partners and regulators. Founded to empower the private markets in achieving a more sustainable and inclusive form of capitalism, Novata’s aim is to help the private markets avoid fragmentation of ESG standards. Novata was formed in partnership with the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network—with additional funding provided by its co-founders and independent chair—and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/ .

About the Ford Foundation

The Ford Foundation is an independent, nonprofit grant-making organization. For more than 85 years it has worked with courageous people on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. With headquarters in New York, the foundation has offices in Latin America, Africa, the Middle East, and Asia.

About S&P Global

S&P Global (NYSE: SPGI) is the world's foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors. We've been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. Our divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. For more information, visit www.spglobal.com .

About Hamilton Lane

Hamilton Lane (NASDAQ: HLNE) is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs approximately 475 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $757 billion in assets under management and supervision, composed of $92 billion in discretionary assets and $665 billion in advisory assets, as of June 30, 2021. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/ .

About Omidyar Network

Established by philanthropists Pam and Pierre Omidyar, Omidyar Network is a social change venture that has committed more than $1 billion to innovative for-profit companies and nonprofit organizations since 2004. Omidyar Network works to reimagine critical systems and the ideas that govern them, and to build more inclusive and equitable societies in which individuals have the social, economic, and democratic power to thrive.

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Corcept Presents ESMO 2025 Late-Breaker: Relacorilant Demonstrates Benefit in Patients with Platinum-Resistant Ovarian Cancer with Prior PARP Inhibitor Treatment19.10.2025 11:15:00 CEST | Press release

New data from pivotal Phase 3 ROSELLA trial reinforce relacorilant plus nab-paclitaxel improves progression-free and overall survival in patients with platinum-resistant ovarian cancer, with no need for biomarker selection – including in people who progressed while on or after taking a PARP inhibitor, a patient population with particularly poor prognosis Corcept expands BELLA trial to three study arms: (i) platinum-resistant ovarian cancer, (ii) platinum-sensitive ovarian cancer and (iii) endometrial cancer Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol, today shared new late-breaking data from its pivotal Phase 3 ROSELLA trial of relacorilant plus nab-paclitaxel in patients with platinum-resistant ovarian cancer at the European Society for Medical Oncology (ESMO) 2025 Annual

Deciphera Presents 2-Year Efficacy and Safety Results from MOTION Phase 3 Study of ROMVIMZA™ (vimseltinib) in Patients with Tenosynovial Giant Cell Tumor (TGCT) at the European Society for Medical Oncology Congress 202518.10.2025 13:00:00 CEST | Press release

– Vimseltinib demonstrated statistically significant and clinically meaningful benefit vs placebo in antitumor response – Ono Pharmaceutical Co., Ltd. (Headquarters: Osaka, Japan; President and COO: Toichi Takino; “Ono”), today announced the two-year efficacy and safety results from its MOTION Phase 3 study of vimseltinib in patients with TGCT in cases where surgical removal of the tumor is not an option will be presented as a poster during the 2025 European Society for Medical Oncology Congress (ESMO), taking place October 17-21 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251018921529/en/ “These long-term Phase 3 MOTION results add to the established body of evidence supporting vimseltinib as a best-in-class treatment for TGCT,” said Matthew L. Sherman, M.D., Chief Medical Officer of Deciphera. “TGCT often causes debilitating pain, stiffness and impaired mobility and these results demonstrate the dura

ProAmpac Acquires International Paper’s Bag Converting Operations17.10.2025 16:09:00 CEST | Press release

ProAmpac, a global leader in flexible packaging and material science, has acquired the bag converting operations of International Paper (“IP”), a global leader in sustainable packaging. The acquisition expands ProAmpac’s converting capabilities, further advancing the company’s Fiberization of Packaging® strategy and enhancing its ability to deliver customized bag solutions for the grocery, convenience store, and quick-service restaurant markets. “Global demand for reliable, recyclable paper packaging continues to grow rapidly amid evolving consumer expectations and market trends redefining recyclability,” stated Greg Tucker, ProAmpac founder, vice chairman, and chief executive officer. “ProAmpac’s acquisition of IP’s bag operation supports our Fiberization of Packaging initiatives, helping us better serve customers by extending our expertise in material science to the US west coast with additional capabilities and redundancies,” continued Tucker. “IP’s bag business is strong, being bui

Pimicotinib Treatment Demonstrates Deep and Durable Tumor Responses and Continued Improvements in Pain and Function for Patients with TGCT17.10.2025 16:00:00 CEST | Press release

With median follow-up of 14.3 months, pimicotinib demonstrated increasing ORR over time, from 54% at Week 25 to 76.2%Global Phase 3 MANEUVER study demonstrated ongoing improvements in key secondary endpoints including pain and functionApplication for marketing authorization under review by China National Medical Products Administration (NMPA), with additional applications planned in the U.S. and other marketsNot intended for Canada-, UK- or US-based media Merck, a leading science and technology company, today announced the presentation of longer-term results from the global Phase 3 MANEUVER trial evaluating pimicotinib, an investigational colony stimulating factor-1 receptor (CSF-1R) inhibitor in development by Abbisko Therapeutics Co., Ltd., for the treatment of patients with tenosynovial giant cell tumor (TGCT). This latest analysis showed that, with a median follow-up of 14.3 months, the objective response rate (ORR) for people treated with pimicotinib from the beginning of the stud

Vertex Announces Progress in Povetacicept Development Program and Presentation of New Data at American Society of Nephrology Kidney Week17.10.2025 15:04:00 CEST | Press release

- Food and Drug Administration grants rolling review of Biologics License Application for povetacicept in IgA nephropathy; Vertex to submit first module before end of year - - Second pivotal development program of povetacicept underway with Phase 2b/3 trial initiation in primary membranous nephropathy - - Updated data from RUBY-3 trial of povetacicept accepted for late breaking oral presentation; inaxaplin study design and APOL1-mediated kidney disease related data accepted for poster presentation - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced several important updates across its development program for povetacicept (pove), an investigational recombinant fusion protein therapeutic and dual antagonist of the BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand) cytokines. Pove has demonstrated best-in-class potential in IgA nephropathy (IgAN) and primary membranous nephropathy (pMN) and has pipeline-in-a-product potential across a range of B c

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye