There has been something of a revolution in ESG (Environmental, Social and Governance) in the funds finance industry over the past several years. For large private equity sponsors an ESG linked capital call or subscription line facility is now becoming more of the norm than the exception. Increased awareness of the importance of ESG and in Europe, the implementation of various regulations that promote measurement and adoption of ESG favourable practices, have been the greatest factors in this growth. Investors in funds now require disclosure by fund managers prior to closing a fund on what their ESG policy and strategy is when deploying capital.