ESG Investing: Will Private Equity Firms Refocus on Stakeholder Value? ESG by Bocconi Students PE Club - February 19, 20201 By Arun Maganti Initially posted on the BSPEC blog ESG (Ethical, Social, and Governance) investing has become much more prevalent as of late. Private equity firms, which have often been portrayed in a negative light due to aggressive leveraged buyouts and “vulture capitalism,” have recently been pushing for ethical investments. But is