Alternative Asset Management & Sustainability Insights

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A series of regular audio briefings for the alternative asset management industry.

  1. Travers Smith's Sustainability Insights: Six fixes for SFDR 2.0

    FEB 6

    Travers Smith's Sustainability Insights: Six fixes for SFDR 2.0

    SFDR 2.0: Six fixes for private markets Current SFDR 2.0 proposals risk sidelining private funds—imposing impractical rules, stifling innovation, and missing the unique strengths of private capital. Is the EU about to bake greenhushing into law? What’s at stake for private funds? Proposals that overlook private markets: The draft framework applies retail-focused logic to all, missing how private markets operate. Ill-fitting rules could disrupt strategies and burden sponsors with unintended consequences.Limits on communication with professional investors: Preventing tailored ESG disclosure does more harm than good. Professional LPs want detail, transparency, and meaningful engagement on ESG strategy—yet current rules encourage silence instead.A missed opportunity for genuine engagement: Private equity influences sustainability through stewardship and direct ownership. Engagement should be central—not sidelined—to all fund categories.Operational impracticalities: Rules on exclusions and portfolio alignment don’t match the realities of investing in illiquid assets. Holding managers liable for market events out of their control is unworkable. Similarly, one-year compliance for funds-of-funds is unrealistic. What Needs to Change? Permit open ESG dialogue with professional investors—exempting such communications from the tightest restrictions.Recognise engagement as a core component of private fund ESG.Give managers practical leeway on exclusions and portfolio reporting, including time to adjust in fund-of-funds.Rethink fund labels. “ESG Basics” risks confusion and is, quite simply, not fit for purpose. Practical Takeaways: Now is the moment for asset managers to shape the rules: engage with policymakers, highlight the operational realities of the industry, and push for changes that reflect how private markets actually deliver sustainable impact.Start preparing for late 2027, but focus on influencing the detail today. How will you use your stakeholder voice as SFDR 2.0 moves forward? Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-the-commissions-sfdr-proposal-fails-to-deliver-clarity/https://www.traverssmith.com/knowledge/knowledge-container/finalised-sfdr-20-proposals/

    6 min
  2. Travers Smith's Alternative Insights: More turbulence in the year ahead

    JAN 23

    Travers Smith's Alternative Insights: More turbulence in the year ahead

    This week we are taking a special look at the issues that will shape private capital in the year ahead. You can read our full analysis of those legal, regulatory and tax headwinds in our new publication Insights 26. Links: PEI Group data partner for growth Insights '26 the Corporate Sustainability Due Diligence Directive the Corporate Sustainability Due Diligence Directive securitisation regime harmonise trade reporting AIFMD II UK AIFMD client categorisation rules national security deal notification merger controls start, scale, and stay in the UK controversial proposal 401(k) investment into alternative assets EU AI Act Insights ’26

    6 min
  3. Travers Smith's Sustainability Insights: Sustainability reforms lack a convincing theory of change

    JAN 9

    Travers Smith's Sustainability Insights: Sustainability reforms lack a convincing theory of change

    In his week's issue of Travers Smith's Sustainability Insights, we are looking at the agreed reforms to the EU's sustainability disclosure rules. Links: our detailed briefing2021 impact assessment

    7 min
  4. Travers Smith's Alternative Insights: The Commission's SFDR proposal fails to deliver clarity

    12/12/2025

    Travers Smith's Alternative Insights: The Commission's SFDR proposal fails to deliver clarity

    In this week's issue of Travers Smith's Alternative Insights, we are looking at the Commission's SFDR proposal fails to deliver clarity. Links: https://www.traverssmith.com/knowledge/knowledge-container/finalised-sfdr-20-proposals/ https://www.traverssmith.com/knowledge/knowledge-container/possible-changes-to-the-eu-sfdr-the-european-commission-seeks-views/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-what-will-sfdr-20-look-like/

    10 min
  5. Travers Smith's Alternative Insights: The UK's budget

    11/28/2025

    Travers Smith's Alternative Insights: The UK's budget

    In this week's issue of Travers Smith's Alternative Insights, we are looking at the UK's strategy for private capital in the wake of the latest budget. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-the-impact-of-uk-tax-policy/ https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2025/ https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2025-private-capital/ https://www.fnlondon.com/articles/rachel-reeves-private-equity-will-be-key-to-growth-push-95c10a9a https://assets.publishing.service.gov.uk/media/68595e56db8e139f95652dc6/industrial_strategy_policy_paper.pdf https://www.bvca.co.uk/static/e07847be-bbcc-4b7e-a201d5d182700aca/BVCA-Response-to-Invest-2035-The-UKs-Modern-Industrial-Strategy.pdf

    6 min
  6. Travers Smith's Alternative Insights: Fund labels in Europe

    11/14/2025

    Travers Smith's Alternative Insights: Fund labels in Europe

    In this week's issue of Travers Smith's Alternative Insights, we are looking at European fund labels. Links: https://www.traverssmith.com/knowledge/knowledge-container/draft-sfdr-20-proposals/ https://www.traverssmith.com/knowledge/knowledge-container/sustainability-exchange-podcast/ https://uksif.org/uksif-pwc-report-uk-sdr-and-investment-labels-implementation-lessons-and-the-road-ahead/

    6 min
  7. Travers Smith's Alternative Insights: Are pooled investment funds on their way out?

    10/31/2025

    Travers Smith's Alternative Insights: Are pooled investment funds on their way out?

    In this week's issue of Travers Smith's Alternative Insights, we are looking at the long term implications of the development of fund tokenisation. Links: https://www.fca.org.uk/publication/consultation/cp25-28.pdf https://www.traverssmith.com/knowledge/knowledge-container/fca-measures-to-support-direct-2-fund-dealing-and-fund-tokenisation https://www.theia.org/sites/default/files/2023-11/UK%20Fund%20Tokenisation%20-%20A%20Blueprint%20for%20Implementation.pdf

    9 min
  8. Travers Smith's Sustainability Insights: Human rights due diligence and defence investments

    10/17/2025

    Travers Smith's Sustainability Insights: Human rights due diligence and defence investments

    In this week's issue of Travers Smith's Sustainability Insights we are looking at human rights due diligence and defence investments. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-private-markets-and-policy-goals/ https://www.traverssmith.com/knowledge/knowledge-container/sustainability-and-security-investing-in-defence https://defence-industry-space.ec.europa.eu/eu-defence-industry/defence-readiness-omnibus_en https://data.consilium.europa.eu/doc/document/ST-12811-2025-INIT/en/pdf https://www.rusi.org/explore-our-research/publications/insights-papers/are-esg-standards-scapegoat-stalling-defence-growth https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-investing-in-europes-defence/ https://docs.google.com/document/d/1WpGBd6s2-MO5YQw4nVDtiH0av5TjSCMfOoIDrupHLlY/edit?tab=t.0 https://www.europeandefense.org/ https://www.ohchr.org/sites/default/files/2022-08/BHR-Arms-sector-info-note.pdf https://www.americanbar.org/groups/human_rights/reports/defense-industry-human-rights-due-diligence-guidance/

    7 min
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A series of regular audio briefings for the alternative asset management industry.

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