London-based asset management consultancy MJ Hudson has expanded its presence in the environmental, social and governance (ESG) sector with the acquisition of Spring Associates Responsible Investment Service.
The Amsterdam-based consulting and reporting company works with private equity firms to evaluate and try to improve the ESG credentials of their portfolio companies. It also works with investors to analyse private equity managers and their funds’ underlying investments on ESG criteria.
The deal comes amid rising interest in ESG investment, as fund firms grapple with how to balance client demand for more responsible investing with making money.
In December MJ Hudson, which has clients managing and advising more than $10tn in assets, expanded into the US with the acquisition of data and analytics firm Amaces.
In 2016 MJ Hudson, which had been focused on providing legal services to fund managers, announced a deal to buy investment consultant Allenbridge and fund services firm Tower Gate Capital.
The firms did not disclose the terms of the Spring Associates deal.