Case Study Private Credit

Given our role as a lender, pre-investment evaluation is our primary opportunity to identify, monitor and manage sustainability risks and opportunities.

Sustainability factors identified during sourcing and due diligence contribute to our assessment of borrowers and their underlying businesses, inform investment and sizing decisions and may contribute to our decision to decline a transaction. As a lender, our greatest opportunity to influence borrowers to improve their sustainability-related practices and to reduce their sustainability-related risk profile is through sustainability based margin ratchets put in place at closing and/or at the time of an upsize, extension or refinancing.

In 2024, our Private Credit strategy completed its investment in Project Game Changer. Project Game Changer is one of the largest car wash chains in the United States with more than 250 locations across 6 states.

In the context of this transaction, the Fiera Comox Private Credit team with the support of third party experts reviewed Project Game Changer’s sustainability-related practices, including health and safety. Understanding water management was a key focus of the due diligence to namely ensure that the company implemented efficient water consumption measures and waste water management aligned with industry best practices.

The results of the due diligence provided confidence that Project Game Changer’s sustainability-related practices are strong and will benefit the company in delivering on its growth plans for the future.