Alpine Investors has received a B Corporation certification, one of less than a handful of private equity firms awarded the certification by B Lab, a global non-profit organization, to companies that balance striving for profits with building a more inclusive and sustainable economy.
San Francisco-based Alpine Investors invests primarily in middle-market software and services-focused companies. Alpine closed its seventh fund in November at its $1 billion hard cap.
"Alpine Investors' B Corp certification reflects our continued commitment to empower workers, and businesses, and generate a positive impact on stakeholders, communities and the environment," said Stephen Bianca, director of compliance at Alpine, in a written statement.
There are more than a dozen private equity firms out of the 3,200 companies that have achieved B Corp status. The certification focuses on the firm's attention to environmental, social and governance issues rather than at the portfolio company level.
"We endeavor to build companies, create jobs, and improve employee satisfaction and engagement at the companies in which we invest," said Graham Weaver, Alpine's founding partner, in a separate statement.
Mr. Bianca said he expects more private equity firms to attain the B Corp certification.
"We would expect that B Corp certification will become more important to private equity sponsors as more firms continue to integrate environmental, social and governance considerations into their investment processes and focus on employee engagement," Mr. Bianca said.— arleen jacobius
