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| In today's Daily Pitch, you'll find: | | | | | |
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| Are 'ESG investors' underperforming? | | As the crowd of ESG critics has grown, funds raised by asset managers that have made public commitments to ESG have garnered trillions of dollars. Some say considering ESG factors is integral to making and managing prudent investments. Others think ESG is a distraction and that its adherents sacrifice returns.
Our latest research analyzes the returns of Principles for Responsible Investment signatory funds, as well as vehicles whose managers didn't commit to upholding those guiding ESG principles. We determine how their performance compares across private equity, private debt, real assets and real estate from 2010 to 2018. The findings might surprise ESG-savvy investors and their critics. | | | | | | | | | 5 charts: Big GPs set the tone for fundraising | |  | | (masuti/Shutterstock) | | | | From VC to PE and beyond, fundraising was down 15% to 64% across all private investing strategies in Q1—except for secondaries. The GPs that did rake in commitments tended to skew larger and more experienced, and their influence was especially pronounced in the one strategy that managed to get higher fundraising. | | | | | | | |
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| Best practices for ensuring compliant global recruitment | | Global recruitment offers opportunities for companies to access talent worldwide, but certainly comes with compliance challenges. Not adhering to local employment laws can lead to financial penalties and reputation damage. By planning your global hiring strategy ahead of time, you can prepare for success.
Begin by staying current with local labor laws and develop detailed, country-specific recruitment policies. As you start your talent search, prioritize diversity and an inclusive work environment to boost employee engagement and retention. Protect yourself by conducting thorough background checks and complying with data protection laws. Finally, establish a successful record-keeping process, tracking employee communication and safe-keeping key documents.
Reap all the benefits of building international teams by reading our blog on 7 Best Practices for Ensuring Compliant Global Recruitment. | | | | | | | |
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| What the SEC's lawsuit against Binance means for crypto investors | |  | Binance CEO Changpeng Zhao
(Stephen McCarthy/Getty Images) | | | The SEC has charged Binance and its CEO with 13 securities law violations including misleading investors, fraud and market manipulation.
If the case makes it to court, it has the potential to completely overhaul how some of the most popular tokens are traded in the US—and crypto investors' ability to sell them. | | | | | | | | | HPS' $10B direct lending fund shows hunger for private debt | |  | | (AlexZaitsev/Shutterstock) | | | Credit management giant HPS has bagged $7.3 billion in equity commitments for its latest direct lending fund, which primarily makes senior secured loans to midsized companies. In April, the firm wrapped up its fifth flagship junior credit fund with $12 billion, well above its target.
The fund closes come just as more investors are seeking out private debt investments. | | | | | | | | | Market map: VC dealmaking in UK continues to plunge | |  | | (Andrey_Kuzmin/Shutterstock) | | | The UK's venture capital market is having another rough year, with the country experiencing continuous quarterly declines in dealmaking since the start of 2022.
Check out our snapshot to see how Europe's largest startup ecosystem is faring across dealmaking, fundraising and exits. | | | | | | | | | | In a giant factory in California, thousands of screens, PCs and other old or unwanted gadgets are picked apart for materials. But what about the rest of our electronic waste? [The Guardian]
After a year, Amazon's $1 billion logistics venture fund is off to a slow start. [The Wall Street Journal]
A startup founder shares how the company pivoted after failing to raise a Series A. [Sifted] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 422 Deals | 2088 People | 466 Companies | 22 Funds | | | | | | |
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The Daily Benchmark:
2018 Vintage Global Real Assets Funds | | | | | | |
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Neuralink, a startup founded by billionaire Elon Musk that is developing a brain-computer interface, is now valued at about $5 billion based on privately executed stock trades, Reuters reported.
SoftBank-backed Zume, which planned to develop pizza-making robots before pivoting to sustainable packaging, has shut down and is liquidating its assets, The Information reported.
Infarm has ended operations in Europe, Sifted reported. The vertical farming company plans to continue to grow its North American business, according to the report. | | | | | |
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| Barnes Group has agreed to acquire MB Aerospace, an aircraft engine component manufacturer, at a valuation of about $740 million. MB Aerospace was last acquired by Blackstone through a leveraged buyout in 2015. | | | | | |
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Archimed has held the final close of its latest healthcare fund on €3.5 billion.
UK-based, deep tech-focused firm IQ Capital has held the final close of its fourth fund on $400 million. Its LPs include British Patient Capital.
Innova Capital has held an interim close of its seventh fund focused on Central and Eastern Europe on more than €324 million.
Isomer Capital has held the first close of its new €250 million fund, securing one-third of its target from returning investors.
UK-based N4 Partners has launched its maiden venture capital fund targeting up to £5 million. | | | | | |
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