This statement is made pursuant to Section 54 of the UK Modern Slavery Act 2015 (the “Act”) on behalf of Hellman & Friedman LLP (“H&F UK”) for the fiscal year ended December 31, 2023.
This statement provides an overview of the efforts that Hellman & Friedman (“H&F”), including H&F UK, has taken to ensure that slavery and human trafficking (collectively referred to herein as “modern slavery”) is not taking place in its business or within its supply chain.
Our Business
Founded in 1984, H&F is one of the oldest and most experienced private equity investment firms operating today. We are well respected for our distinctive investment philosophy and focused approach targeting large-scale equity investments in companies in select sectors. H&F has offices in San Francisco, New York and London. H&F carries out business in the United Kingdom through H&F UK, along with certain other group entities that are not required to prepare a statement under the Act.
H&F UK has approximately 37 employees who do business across Europe. Our workforce consists almost entirely of skilled professional employees.
We believe that the risk of modern slavery in our own workforce is minimal due to the strength of our internal employment policies and procedures. Our workforce consists almost entirely of skilled professional employees, further limiting this risk.
We also consider that the risk of modern slavery within our supply chain to be low. Our primary suppliers are professional services firms, such as law firms, accountants, consultants, research and data analytics providers and other technology services.
Steps Taken to Assess and Manage Modern Slavery Risks
H&F is dedicated to building and maintaining a reputation synonymous with the highest standards of integrity, conduct, and professionalism and expects its employees to abide by equally high standards. H&F formalizes these standards in its Code of Ethics, which is applicable to all employees, Partners, and Senior Advisors. As part of the Standard of Business Conduct within the Code of Ethics, all employees are required to comply with applicable laws, which would include those related to modern slavery.
H&F maintains a Policy for Reporting Suspicious Activities and Concerns, which describes H&F’s various reporting channels, including a whistleblower hotline. Reports can be made through the hotline anonymously. H&F prohibits retaliation or other adverse action against those that raise concerns in accordance with its policies.
In addition, almost a decade ago, H&F adopted the American Investment Council’s Guidelines for Responsible Investing—guidelines that apply prior to investing and during our ownership and cover environmental, health, safety, labor, governance and social issues. Our commitment to responsible investing underscores our commitment to take into account material risks associated proposed investments. As appropriate, this can take into account factors related to human capital and labor rights. In addition, companies in which H&F invests are expected to comply with applicable laws and regulations, including those relating to modern slavery. H&F investments are not covered by this statement.
Periodic firmwide discussions and regular training is provided to all H&F professionals regarding our culture, values and expectations with regard to applicable laws and regulations. In addition, we have educated key stakeholders in relevant parts of the business about the risk of modern slavery.
H&F monitors compliance with the Act and the effectiveness of its modern slavery prevention efforts by monitoring its grievance mechanism.
Approval
This statement was approved on 02 September 2024 by the Board of Directors of H&F UK. Solely for purposes of the UK Modern Slavery Act, this Statement was signed by Stuart Banks, a director of H&F UK on 02 September 2024.