Top 50 accounting and advisory firm partners with Novata to help mid-market focused private equity firms respond to evolving ESG requirements.
ATLANTA – Frazier & Deeter (FD), a Top 50 accounting & advisory firm, and Novata, a public benefit corporation and technology platform built to provide private markets stakeholders with intuitive and effective Environmental, Social and Governance (ESG) data management, jointly announced a non-exclusive strategic partnership today. The partnership was created to help private equity firms and portfolio companies easily understand and identify relevant metrics that satisfy growing stakeholder and regulatory demands for disclosure. Backed by a consortium that includes the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network, and with the support of more than a dozen private equity firms and pension funds, Novata is the leading ESG data management platform built specifically for the private markets. Together, FD and Novata will leverage respective advisory and technology solutions with the goal of delivering best-in-class disclosures to help mid-market focused private equity firms respond to evolving ESG requirements.
“Novata has designed a full-service experience to address the urgent need for a simple, yet customized, technology platform to make ESG data reporting and collection possible for the private markets,” said Robert Woosley, FD’s National Private Equity Practice Leader. “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.”
“Frazier & Deeter is a nationally ranked CPA and advisory firm serving the needs of the private equity industry across the country,” said Scott Kennedy, President at Novata. “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.”
“Novata is an innovative ESG offering backed by private market leaders,” said Missy Munoz, Global ESG Practice Leader at Frazier & Deeter. “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.”
“It’s exciting to see the partnership between FD and Novata,” said Paul Yett, Director of ESG & Sustainability at Hamilton Lane. “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.”
“There is growing pressure for companies, both private and public, to showcase ESG data to their investors, employees, local communities and more,” said Lorraine Spradley Wilson, Chief Impact Officer and Head of ESG Methodology at Novata. “Our partnership with FD will further help simplify and accelerate ESG data collection in the private equity industry.”
About Novata
Novata is a public benefit corporation created to enable the private markets to achieve a more sustainable and inclusive form of capitalism. Novata helps private equity firms and private companies to more easily navigate the complex ESG landscape by providing a technology platform that simplifies the process of selecting reporting metrics, provides clear and simple guidance for painless data collection, hosts a cutting-edge secure contributory database to store data, and offers unique tools for analysis and seamless reporting to key stakeholders, including limited partners and regulators. Novata was formed as a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.
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About Frazier & Deeter
Frazier & Deeter is an award-winning Top 50 accounting and advisory firm that offers a full scope of tax, audit, internal controls advisory and business transformation services. FD and its family of brands serve clients worldwide, from the Fortune Global 500 companies to growing small businesses, and the firm has been recognized repeatedly as a Best of the Best Accounting firm, a Best Firm to Work For® and a Best Firm for Women in Leadership. The firm is registered with the Public Company Accounting Oversight Board, the Canadian Public Accountability Board and the American Institute of Certified Public Accountants. FD’s brand promise is Investing in Relationships to Make a Difference®, and the firm focuses on consistently exceeding expectations by supporting clients’ evolving needs as their businesses grow.
