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Environmental, Social & Governance


MINIMALISING IMPACT ON THE ENVIRONMENT

We aim to minimize the environmental impact of our business across our global network. Our approach to a healthy environment is to reduce our energy usage where practical and recycle where local facilities allow. This helps us to reduce our day-to-day environmental impact and costs, and also provides for small productivity gains.


OUR INVOLVEMENT IN SOCIETY

We believe that personal choice and engagement bring the most benefits to both employees and the causes they choose to support. We encourage Advent team members’ involvement in areas of social responsibility such as fundraising, voluntary work, mentoring, external appointments and memberships. In September 2013, over 100 members of the Advent team from across our global offices took part as runners, drivers and volunteers in Reach the Beach, a long-distance relay race staged in New Hampshire. Coming together to raise funds for Partners in Health (PIH) (www.pih.org), our relay teams successfully covered 205 miles non-stop over 30 hours, supported by their colleagues. The funds raised will help PIH to expand rural health clinics in the high-poverty Chiapas region of Mexico and to construct a new maternity hospital in the Neno district of Malawi. In addition, our Boston office participates in YearUp, a community initiative helping young urban adults to reach their potential through mentoring and internships.

ADVENT INVESTING IN COMMUNITIES: CARE HOSPITALS

INVESTING IN CARE
Despite rapid progress in other areas, healthcare infrastructure has remained relatively under-developed in India. Currently, less than one hospital bed is available per 1,000 members of the population compared with the global average of 2.7, an annual shortfall of over 50,000 hospital beds. With the majority of existing hospital beds concentrated in major cities, this gap in critical services is already felt more acutely by patients living in and around smaller cities. Over the next five years, as demand continues to grow the situation is expected to deteriorate, leaving many communities without the modern medical treatments and facilities they need.

VISION AND VALUES
In 2012, Advent acquired CARE Hospitals with a vision of creating a regional market leader in acute care services. Founded in 1997, CARE has grown from a single facility focusing on cardiac care to a multi-specialty group of 12 hospitals serving Central and Southern India. Partnering CARE’s clinical excellence with Advent’s operational expertise, we saw the opportunity to help the business expand its footprint and capabilities to reach more patients in the region’s smaller cities.

Our first step was to upgrade and expand CARE’s existing facilities to provide the group’s clinical team with the quality infrastructure they needed. Adding new areas of specialization like orthopedics and ophthalmology was key to offering comprehensive care to patients. Central to our strategy was the acquisition of existing hospitals and development of greenfield projects in CARE’s current and adjacent markets to bring better healthcare to more people and address the shortfall in hospital beds.

RAISING STANDARDS
CARE’s transformation into a professionally run organization is already well underway, with patients across Central and Southern India now able to access international standards of medical care in modern facilities equipped with the latest technology. In Hyderabad, the opening of a new outpatient facility (the largest standalone healthcare center in India) has significantly extended the range of services available to the local population. Building on this momentum, plans for three new hospitals that will add around 700 acute care beds in smaller cities are on track.

SUPPORTING COMMUNITIES
CARE has also been on hand to support its local communities in crisis. Following recent terrorist attacks, CARE’s staff showed outstanding dedication in difficult circumstances. In Chattisgarh, the badly injured victims of an insurgent attack were airlifted to CARE’s hospital in Raipur to receive life-saving emergency treatment.

In Hyderabad, in the aftermath of a devastating bomb blast, CARE’s teams worked over several days to save seriously injured patients admitted to their hospital and volunteered to attend to those at other smaller hospitals in the city.
This commitment and compassion remain at the heart of CARE’s ethos as it strives to deliver world-class standards of healthcare to more people across the region.

 

OUR GOVERNANCE

Advent International Corporation (AIC) is a fund manager. The majority of Advent offices act as advisors to AIC, providing advice on the investment and divestment of portfolio companies.


REGULATION

AIC is regulated by the US Securities and Exchange Commission. Where applicable, our advisory businesses are registered with their local regulator, such as the Financial Conduct Authority (FCA) in the UK.


RISK MANAGEMENT AND COMPLIANCE

AIC is advised by dedicated investment advisory committees of local senior partners and at least one partner from another region. This model ensures the consistent application of global Advent standards and helps to enhance cooperation and knowledge-sharing between regions. Each fund has a dedicated advisory committee of limited partner representatives who meet with us periodically to review the portfolio, discuss issues and opportunities and monitor certain actions. A global compliance team led by our Chief Compliance Officer maintains policies and controls in this area and oversees our internal governance programs worldwide.


TALKING TO STAKEHOLDERS

We attend portfolio company board meetings and are in regular contact with management. We also maintain a continuous dialogue with our limited partners who invest in our funds and our portfolio companies, M&A intermediaries and the wider private equity community.

We provide our limited partners with regular communications on investment and exit activity and the progress of our portfolio companies. We send them quarterly fund financial reports, and hold an annual investor conference. Our investors can access information about our funds and their investments at any time through a secure extranet.


TRANSPARENCY AND DISCLOSURE

We follow the guidelines on transparency and disclosure for private equity firms produced by the Walker Working Group
in the UK and the BVK Large Buyout Group in Germany.

For additional disclosures on investment activities in the UK and Germany that fall within these guidelines, please visit
www.adventinternational.co.uk and www.adventinternational.de respectively.

We also provide regular information to trade associations to assist them in analyzing the economic role and contribution of the private equity industry.


IMPROVING PORTFOLIO COMPANY GOVERNANCE

Good corporate governance is at the heart of our value creation plans. We sit on the boards of our portfolio companies as well as on audit, compensation and other committees and work in close partnership with our management teams. We are continually thinking about how we can drive long-term improvements. We encourage our portfolio companies to adopt appropriate corporate governance procedures in line with established best practices and local legal and regulatory requirements.