'In some cases, our investments are in funds managed by various third parties. If a portfolio coverage target is pursued, would it be sufficient to assess and track the science-based targets set by asset manager (at the corporate or fund level), or would targets need to be at the underlying investee level?
Under the Financial Institutions Near-Term Criteria Version 2.0, a Portfolio Coverage target would need to be set and tracked at the underlying portfolio company level. Engaging the fund manager to also set a SBT should, however, help you achieve your target as they (also) engage the underlying portfolio companies and potentially provide you with data on their progress.