Investment methodology
ONE CREATION follows clearly established investment methodologies for each of the asset classes in which the Cooperative invests. These methodologies guarantee total transparency in the investment selection process for the members and the companies in the portfolio.
Unlisted companies
Our role as an investor
ONE CREATION positions itself as a minority investor for the companies in its portfolio with the ambition of helping them to continue to develop their business in a sustainable manner.
We usually ask for a seat on the board of directors and exceptionally take an observer position.
Our investment commitment is longer than that of other investors because we do not have vintage funds we invest from. As a result, we are able to provide optimal monitoring throughout the life of the company with a longer investment horizon, generating more value for all.
We will intensively leverage our global network to help our portfolio companies grow and “do good by doing good”.
Investment organization
Strategic Committee
The Strategic Committee follows an agenda that addresses, in addition to the general aspects of the Cooperative’s portfolio, the three main asset classes: listed shares, private equity and infrastructure.
Composed of 5 members of the management (bi-monthly meetings):
- Olivier Ferrari
- Sabine Giammarresi – Mabillard
- Elisa Benito
- Fulvio Maccarone
Private Equity Team
Within the Strategic Committee, the Private Equity Team is the one that proposes and votes on Private Equity proposals within the investment process. It is composed of 4 members of the management and decisions are taken by simple majority:
- Olivier Ferrari
- Sabine Giammarresi – Mabillard
- Elisa Benito
- Fulvio Maccarone
ONE CREATION delegates its management functions to CONINCO as defined by art. 25 of its statutes. The Board of Directors of the Cooperative makes the final decision for all proposed investments.
Investment universe
We translate our investment themes into specific investment sectors.
Our investment themes
- Renewable energy: All energy solutions from non-exhaustible natural sources.
- Energy efficiency: All processes, management systems, tools, products and services that reduce energy consumption.
- Ecological materials: Materials which, by their constitution or their particular function, can be substituted for existing, more polluting materials.
- Sustainable mobility: Low-polluting means of travel and other services or products that reduce the environmental impact of moving people and goods.
- Waste management: All products, services and tools that make it possible to recycle waste, produce energy from it, reduce waste production or treat it in such a way as to reduce its impact on the environment.
- Water management: Products, services and tools that enable the efficient and sustainable management of available water resources.
- Technological innovations: Any innovation that has the potential to reduce environmental impacts through the application of their products and/or services.
- Food and sustainable agriculture: All solutions that allow us to reconcile productivity and limit the impact of the food sector and agriculture on our environment.
Our geographic focus is on our strong presence in the Swiss ecosystem, while selectively considering European opportunities if they fit our approach and strategy.
Investment criteria
ONE CREATION’s private equity criteria are used as guidelines for selecting our portfolio companies:
- Investment Universe (Themes/Sectors/Geography)
- Investment stage (depending on technology and prospects)
- Ticket size corresponding to our investment capacity (currently 1 million CHF maximum)
Investment process
Step 1 – Investment Research
Search for opportunities through our network
Initial screening by each member of the Private Equity Team according to our general investment criteria.
Step 2 – Review of the business model
Interviews with management, suppliers, customers, and investors.
Review of preliminary investment material.
Discussion with experts in the field within the One Creation network
Majority approval by the Private Equity Team based on a Due Diligence Opinion.
Step 3 – Due Diligence
Visit the company on site.
Financial, legal and business review.
Preparation of the Due Diligence Report on the basis of the company’s Dataroom.
Majority approval by the Private Equity Team.
Step 4 – Final approval by the ONE CREATION Board of Directors
Presentation of the company by the founders / management.
Presentation of the Due Diligence Report and investment recommendation.
Approval by majority vote of the Board of Directors.
Step 5 – Implementation of the decision of the ONE CREATION Board of Directors
Signing of the legal documentation.
Designation of representatives (board member or observer).
Integration into the ONE CREATION portfolio.
Step 6 – Follow-up of investments
Participation in the Board of Directors.
Business support through the ONE CREATION network.
Reporting.
Step 7 – Refinancing or exit
Review of the company’s current situation.
Update of the Due Diligence Report.
Analysis of exit or refinancing conditions and approval by the Private Equity Team.
Complementary Due Diligence Report for Reinvestment to the Board of Directors.
Majority approval by the Board of Directors.
Listed companies
Our role as an investor
ONE CREATION is positioned as a minority investor for the companies in its portfolio with the ambition of helping them to continue to develop their business in a sustainable manner.
Our investment commitment is longer than that of other investors because we do not have vintage funds to invest in. As a result, we are able to provide optimal monitoring throughout the life of the company with a longer investment horizon, generating more value for all.
We will intensively leverage our global network to help our portfolio companies grow and “do good by doing good”.
Investment organization
Listed equity investment team
Composed of 4 members of the management :
- Olivier Ferrari
- Sabine Giammarresi – Mabillard
- Myriam Allani
- Elisa Benito
Investment universe
Investment process
Step 1 – Financial Qualification
Profitable and financially strong companies by conducting an in-depth analysis over the last 5 years.
Profitability criteria.
Financial strength criteria.
Liquidity criteria.
Step 2 – Environmental Criteria
Only companies whose turnover has a positive impact on the environment (more than 20%) are selected.
Analysis of financial and non-financial reports.
Qualitative assessment of environmental impact.
Internal management tools.
External providers of extra-financial data: ISS ESG and Refinitiv.
41% – Support | 31% Mix | 21% Leader
Step 3 – Restriction Criteria – ESG
ISS ESG validates the exposure to restrictions and controversies on a monthly basis (exposure threshold: 5% of turnover).
Manufacture of arms and other military products.
Production and processing of tobacco and manufacture of alcohol.
Gambling.
Nuclear power generation and genetic engineering.
Step 4 – Portfolio Construction
The selection of companies to be included in the portfolio is made by an investment committee composed of our CIO, managers and ESG analysts.
The weighting assigned to the companies selected is determined by their market capitalization.
Step 5 – Final Portfolio
Selection of approximately 30 to 70 companies.
Continuous monitoring of sustainability criteria
Environment
- CO2 emission.
- Greenhouse gas emissions.
- Energy consumption.
- Environmental innovation.
Social
- Employee turnover.
- of women employees.
- of women in management.
- Human rights policy.
- Policy against child labour.
Gouvenance
- Board of Directors.
- Independent.
- Number of women directors.
- Duality of functions.
Infrastructure
Our role as an investor
ONE CREATION works either directly as a project developer or indirectly through selected partnerships with recognized players in the field.
Investment organization
As manager, CONINCO selects, analyses and approves all investments proposed to the Board of Directors of ONE CREATION for approval.
Infrastructure Investment Team :
Composed of 4 members of CONINCO
- Olivier Ferrari
- Sabine Giammarresi – Mabillard
- Elisa Benito
- Fulvio Maccarone
The team meets twice a month and decides by a majority of the members present.
Investment process
Step 1 – Investment Research
Search for opportunities through our network or our partners.
Initial screening by the team.
Step 2 – Pre-evaluation of the project
Initial technical visit.
Review of major facilities.
Initial comparative analysis.
Optimization factors.
Approval by the infrastructure team.
Step 3 – Preliminary Analysis
Feasibility analysis.
Definition of the initial concept.
Estimated savings.
Estimated cost of the project.
Technical report.
Approval by the infrastructure team.
Step 4 – Detailed Analysis
Project specifications.
Technical risk analysis.
Selection of suppliers.
Final cost and savings.
Contractual conditions.
Implementation schedule.
Management approval.
Step 5 – Project Diligence Report for Approval
Presentation of the project.
Discussion of the economic aspects.
Formal offer.
Approval by the Board of Directors of ONE CREATION Cooperative.
Step 6 – Implementation of the decision of ONE CREATION’s Board of Directors
Delivery and installation.
Project management.
Testing and commissioning.
Integration into the ONE CREATION portfolio.
Step 7 – Project Monitoring
Data monitoring and analysis.
Measurement, verification and stabilization of performance.
Optimization.
