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Responsible Investment

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Commitment

57 Stars believes that integrating Environmental, Social, and Governance (“ESG”) considerations into company operations and investment processes leads to sustainable value creation and positive societal outcomes.

As a long-term investor, we believe that accounting for ESG factors is fundamental to risk management and identifying opportunities for value addition, which can result in better-run more resilient companies and stronger financial returns over time.

We are committed to understanding our investees’ approach to ESG and will favor those managers and companies that are willing to follow strong ESG practices.

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ESG in the Investment Process

Having formally integrated ESG into our diligence process more than a decade ago, we are continuously striving to improve our approach to employing ESG best practices across our investment process. To this end, we have developed a comprehensive Environmental & Social Management System (“ESMS”) and ESG policy, and have devoted significant resources to expanding our ability to conduct due diligence, monitor, and report on ESG and impact metrics.

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Our Name

In developing the ESG policy and ESMS, we considered a range of codes and standards, including the United Nations Principles for Responsible Investing (“PRI”), the International Finance Corporation’ (“IFC”) Performance Standards, the Commonwealth Development Corporation (“CDC”) Code of Responsible Investing, and the Institutional Limited Partners Association (“ILPA”) guidelines.

 

We seek to avoid investments that pose high
ESG risk.

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Environmental, Social, Governance and Impact (“ESGI”) Committee

57 Stars ESGI Committee oversees ESG integration at both firm and portfolio levels and is a cross-functional team of senior professionals.

The ESGI committee is comprised of the following professionals:

57 Stars ESGI Committee oversees ESG integration at both firm and portfolio levels and is a cross-functional team of senior professionals.

Carl Balit

Carl Balit

Managing Director

Steve Cowan

Steve Cowan

Co-founder and Managing Director

Claire Organick

Claire Organick

Assistant VP, ESG & Impact

Lindsey Sullivan

Lindsey Sullivan

Executive Director

Carl Balit
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Carl Balit

Managing Director

Mr. Balit joined 57 Stars in 2007. At 57 Stars, Mr. Balit participates in the analysis, selection, and monitoring of fund investments and co‐investments across the firm’s target markets. His fund investment experience is principally focused on growth, control, and special situations strategies, while co‐investments he has overseen span financial and consumer services sectors.

 

Prior to joining 57 Stars, Mr. Balit gained operating experience with a Canadian apparel manufacturing company and was involved in leading the shift of the company’s production platform to Asia. Mr. Balit holds a BA in Economics from Colby College, and joined 57 Stars from Georgetown University, where he completed an MBA and an MS in Foreign Service. He is fluent in English and French.

Steve Cowan
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Steve Cowan

Co-founder and Managing Director

Mr. Cowan co‐founded 57 Stars in 2005, and is a member of the firm’s Investment Committee.

 

Prior to 57 Stars, Mr. Cowan served at Overseas Private Investment Corporation (OPIC) as a Director in the Investment Funds Department, where he was responsible for structuring new funds, designing and implementing the program’s asset allocation plans, selecting managers, and overseeing a large portion of the USD 3.5 billion investment funds program. Mr. Cowan also helped design OPIC’s groundbreaking capital markets insurance product. Prior to his tenure at OPIC, Mr. Cowan was an attorney at Munger, Tolles & Olson in Los Angeles, and at Milbank, Tweed, Hadley & McCloy in New York. He has served as Adjunct Professor of Law at American University’s Washington College of Law, and as an advisor to the governments of Colombia and Canada with respect to developing private equity programs.

 

Mr. Cowan holds an AB in Political Science and Development Studies (magna cum laude and with honors) from Brown University and a JD from Harvard Law School. In addition to English, he has knowledge of Cantonese, Mandarin, French, and Spanish.

Claire Organick
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Claire Organick

Assistant VP, ESG & Impact

Ms. Organick is an Assistant VP, ESG & Impact at 57 Stars focusing on ESG integration and impact strategy.

 

Prior to joining 57 Stars, Ms. Organick worked at Cambridge Associates, where she served as an investment analyst with the Sustainable and Impact Investing team. She also assisted in management of the endowment and foundation investment portfolios, allocating assets across private and public markets and focusing on impact criteria such as sustainability and diversity.

 

Ms. Organick holds a B.A. (magna cum laude) in Economics and French from Occidental College. She speaks English and French.

Lindsey Sullivan
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Lindsey Sullivan

Executive Director

Ms. Sullivan joined 57 Stars in 2022. She is the Chief Compliance Officer of the firm and as such is a nonvoting member of the 57 Stars Investment Committee. She is responsible for all aspects of the firm’s regulatory obligations as a Registered Investment Adviser in the US and manages numerous aspects of the firm’s legal matters and operations, from contractual relations with potential and actual investors, lenders, and service providers, to the administration of the firm’s technology and presence in locations overseas.

 

Prior to joining 57 Stars, Ms. Sullivan served as Director of Operations & Chief Compliance Officer at a private equity firm making real estate investments in Opportunity Zones in the U.S. Before that, she was Counsel in the Litigation and Enforcement practice group of Ropes & Gray in New York and Chicago, where she defended clients in investigations and enforcement actions before the Securities and Exchange Commission and routinely advised private equity firms and other investment advisers regarding their obligations under the federal securities laws, often in connection with SEC examinations. Ms. Sullivan started her legal career clerking for a U.S. Federal Court judge in the Northern District of Illinois.

 

Ms. Sullivan has a Bachelor of Commerce degree from McGill University, with concentrations in Finance and International Business, and worked as a Finance Specialist and Sales Strategy Analyst before receiving her JD from Northwestern University.