ERM, a world-leading sustainability consultancy, published a new survey of leading private equity firms that finds companies that have embraced environmental, social and governance (ESG) issues now have a distinct advantage in value creation.

This survey found there was a significant belief that considering ESG at the heart of investment will generate strong returns. The 'mainstreaming of ESG' in investment processes is well underway, with 93% believing a focus on ESG will generate good investment opportunities. However, only 25% of firms have a thematic ESG fund or strategy and take a reactive, opportunistic approach to ESG investment.

Read the full report here.

Transitions
Bfinance has appointed Anna Morrison as senior director to lead the firm's private equity advisory practice.

Marc Brown joins EQT as a partner and head of the firm's new growth strategy division. Brown was formerly the vice president of corporate development at Microsoft.

Grant Avenue Capital has promoted Alex Ferree and Eric Kim to vice president.

CD&R backs the merger, valued at $4 billion, of White Cap and Construction Supply Group to create a North American distributor of concrete accessories, specialty construction and safety products. PE Hub (10/19)

CalPERS, whose chief investment officer Ben Meng recently stepped down, is consistently short billions of dollars to pay all retirees their pensions. The $410 billion fund needs a 7% annual return to meet its obligations. New York Times (10/19)

Frog Capital senior partner Mike Reid discusses growth capital strategies during the pandemic. Unquote (10/19)

The Ontario Teachers' Pension Plan, which manages $155.1 billion, has teamed with Lightyear Capital to acquire wealth management firm Allworth Financial from Parthenon Capital. Allworth provides retirement planning, investment advising and 401(k) management services, and has $9.3 billion in assets under management. Pensions & Investments (10/20)

The nutrition and weight-loss company Nutrisystem has been purchased by Dallas-based Kainos Capital for $575 million. Nutrisystem's seller, Tivity Health, bought the firm in March 2019 for $1.3 billion. Dallas Morning News (10/19)

The Qatar Investment Authority is changing its management structure to bring many of the executives under one committee. The QIA has about $300 billion under management. Yahoo! Finance (10/20)

DCA Capital Partners has launched its third investment vehicle with a $50 million target. DCA invests in companies seeking growth capital in technology, commercial services, branded products, manufacturing and health care. Sacramento Business Journal (10/20)