Especially in Europe, a lot of reports are recently showing how ESG is becoming a critical element for running healthy companies (e.g. gaining market share, engaging employees) but also in raising capital and being more attractive for strategic buyers/ PE firms. How much are ESG factors are already embedded in the investment-making decision process of those buyers? How this will change in the following 3-5 years? The 'new' Searchers, are considering starting tracking ESG KPIs improvements post-acquisition to anticipate this shift?

Truly curious to know how and when this trend will impact the Search Fund world.