Responsible Workforce Principles

Millions of people rely on Perl Haven-managed funds for a secure retirement. Hundreds of communities throughout the world have workers employed by companies in which Perl Haven-managed funds invest. We take our responsibility to be a trusted partner very seriously.

Perl Haven, Inc. has adopted Responsible Workforce Principles to better reflect our impact and expectations as to how companies in which Perl Haven-managed funds have a majority equity investment (“Portfolio Companies”) approach workforce related elements which can have a material impact on both workers and investment returns.

Prior to Investing:

Perl Haven-managed funds undertake significant due diligence prior to making an investment. That investment analysis includes workplace elements such as, but not limited to, workplace health and safety records, unionization status, wages and benefits, and skills training.

When Invested:

Perl Haven-managed funds will encourage, to the extent legally permissible and consistent with the fiduciary duties of the applicable fund’s General Partners, their Portfolio Company managers to improve long-term performance by:

• Seeking to grow and improve the investment for both long-term value creation and to benefit a broad range of stakeholders including employees.
  
  
• Seeking to confirm the Portfolio Company does not utilize or engage with companies that utilize forced or unlawful child labor.
  
  
• Seeking to include employees in Portfolio Company gains through benefits such as broad-based equity programs.
  
  
• Seeking to foster and enhance transparency and record keeping surrounding workplace conditions.
  
  
• Seeking to improve employee well-being and development in compliance with applicable laws. This includes supporting, where applicable:
  
  
  • Providing safe and healthy workplaces
    
    
  • Providing workplaces free from discriminatory practices
    
    
  • Providing competitive wages and benefits
    
    
  • Providing opportunities for skills training and pathways to internal advancement
    
    
  • Respecting the rights of employees to decide whether or not to join a union and engage in organizing efforts
    
    
  • Providing a collective bargaining process free from intimidation or retribution

While all the Principles will not apply in every instance, we believe this list contains the most meaningful elements to building and sustaining best-in-class workplaces, consistent with our commitment to our investors.

Effective Date: July 1, 2024

Since acquiring The Venetian Resort Las Vegas in February 2022, Perl Haven Private Equity has been supporting management in executing a comprehensive plan to invest in enhancing the property and its offerings, incentivize and engage team members and catalyze growth across the business.

As a leading alternative asset manager, we believe Perl Haven is uniquely positioned to drive a more sustainable future and expand opportunity in our workplace, the marketplace and throughout the communities where we work and live.