About Force For Good
At Alpine Investors, our Force For Good mission reflects our belief that exceptional performance and meaningful impact can go hand-in-hand. We aim to create sustainable, positive business outcomes that enhance the lives of our many stakeholders, and embrace the potential of private equity to generate jobs, drive growth, distribute wealth, and foster societal progress. Our 2025 Force for Good Report details Alpine's commitment through initiatives such as PeopleFirst, ESG, Diversity and Inclusion, and our Alpine Social Ventures Foundation. We welcome you to explore the report and learn more about this work.
Pictured Here: Larisa Owusu, Diversity & Inclusion Associate, Alpine Investors
Alpine Investors had one of its most impactful years yet, fueled by our conviction in our people and our continued commitment to being a force for good—both in our businesses and in the communities we serve.
PeopleFirst
At Alpine, our most strategic investment is in our people. Our PeopleFirst investing and operating philosophy shapes how we hire, where we invest, and how we engage and add value to the lives of people across Alpine’s ecosystem.
Pictured Here: Will Chance, Principal & CEO of Atlas, Alpine Investors
Employee Net Promoter Score (eNPS)
eNPS measures how employees feel about their company, and is based on customer NPS, a measure of loyalty, engagement, and experience pioneered by Bain & Co. eNPS scores range from -100 to 100. Scores between 10–40 are considered good, and scores above 40 are considered great. Alpine HQ and portfolio companies measure portfolio-wide eNPs and retention rates, and strive to see improvements in both metrics for each of our companies annually. Here are a few eNPS stats from across our portfolio as of 12/31/24.
33
Weighted average eNPS for Alpine’s portfolio companies
34
Weighted average for Alpine’s services companies
23
Weighted average for Alpine’s software companies
56
Percent of portfolio companies had a “Great” eNPS
89
Weighted average for Founders partnering with Alpine
PeopleFirst Case Studies
How Medusind’s CEO Unites His Global Team Around a Shared Culture
Astra Service Partners’ CEO Invests in His People with PeopleFirst Leadership Coaching
How the Alpine Executive Experience Creates Strong Leadership Networks
“If you care about the people and you want to build a great, lasting organization, you have to invest in your people. For executive leaders in our organization, I don’t think there’s any better way to support them than through coaching. The right coach helps customize the best plan to help our leaders grow. The impact of great coaching on our leaders has been invaluable.”
CEO, Astra Service Partners
“I’m hearing more creativity. They’re bringing their ideas and they’re engaged. We truly feel like one global geography. Everything we do is with all of Medusind in mind.”
CEO, Medusind
“We can be as vulnerable as we want and share things that we’re less comfortable sharing with our teammates. We have a rule that anything said in the pod meeting remains there, and that allows for some very open conversations.”
CIO, Visual Matrix
“The AEx program provides people with a third space to show up and not feel like they’re performing. It’s like group executive coaching; people ask for support with their challenges and anxieties within their roles. That culture has been cultivated within this group and it helps strengthen Alpine and each individual.”
Chief Talent Officer, Alpine
Environmental, Social, and Governance
Alpine’s ESG Program Overview
Alpine is committed to being a responsible steward of our investors’ capital. Alpine’s ESG program, first implemented in 2019, has evolved to address emerging macro trends while enhancing strategic oversight throughout the investment cycle. Over the past year, Alpine has focused on enhancing ESG as a strategic priority at various phases of the investment period. Read more about specific projects in the 2025 Force For Good Report.
Year of Signing
June 2020
First Transparency Report
April 2021
Year of Signing
2022
ESG Across Alpine’s Portfolio
Health and Safety at Trilon Group: Creative Solutions and Changing Culture
Elevating Ethics: A New Code of Conduct for Alpine Companies
Diversity and Inclusion (D&I)
Diversity and Inclusion efforts are critical aspects of Alpine’s PeopleFirst strategy. We believe in creating a culture of belonging, where people are celebrated, supported and encouraged. Through our talent partnerships, active and engaged employee resource groups, and educational programs that expand access to private equity, we aim to set an industry-wide example of what inclusive leadership can look like.
Pictured Here: Adrianna Redd-King, Director of Talent Operations, Alpine Investors
D&I at Alpine
We aim to be the greatest private equity firm of our generation in part by creating an environment in which all people feel included, supported and celebrated.
Employees at Alpine HQ
Hiring and Talent Partnerships
Employee Resource Groups
Alpine Investors expanded its Employee Resource Groups (ERGs) in 2024, adding new opportunities and growth in numbers. Our leaders proudly play key roles across the different ERGs to ensure the success of these communities.
Our ERGs strive to make Alpine a place where everyone, no matter their identity, can find a home for themselves. Our ERGs have the autonomy and freedom to define their purpose as a group and within Alpine. Through continuous conversations—both in person and in digital spaces—our ERGs strive to build strong connections, enhance inclusion, and promote allyship and advocacy. We are excited to support and continue expanding our ERG efforts in the years to come.
Alpine Social Ventures Foundation
Alpine Investors is proud to support the next generation of social-impact leaders. Our Alpine Social Ventures Foundation (ASV) provides capital, guidance, insights and other resources to up-and-coming executives to help them successfully launch their businesses (3). Built upon practices learned through Alpine Investors’ CEO-In-Training and talent programs, ASV leverages Alpine’s playbooks and practices derived from 20+ years of private equity investing.
Pictured Here: ASV-backed company, Working Trees, on site in Brazil with local farmers
ASV 2024–2025 Fellows
Kelly Redmond & Gabby Dweck
Co-founders of Oleo
Oleo has developed a biomanufacturing platform that produces a sustainable palm oil alternative from biowaste. Palm oil is the most widely used vegetable oil in the world, and palm oil production typically requires deforestation, a carbon-intensive process that contributes to climate change. Oleo hopes to eliminate the need for palm oil-driven deforestation by offering a carbon neutral alternative to conventional palm oil.
Annual Giving Week
Alpine Investors hosts an annual Giving Week that inspires employees to donate to nonprofit organizations that support everything from local missions to global change. Alpine matches all charitable donations 2:1 or greater during our Giving Week.
$254,000
Donated to 137 nonprofits around the world in 2024.
Looking Forward
Being a Force For Good is a goal that unites us, inspires us and propels us into the future. We’re proud to reflect on the progress we’ve made over the past year and are deeply grateful for the partnerships that helped make it possible.
At Alpine, we are excited by the year ahead as we continue to scale across our portfolio, meet the needs of a rapidly evolving world and look for new ways to make a difference for our key stakeholders.
Our commitment to PeopleFirst remains unwavering. We look forward to supporting our businesses and fostering cultures where employees are given every opportunity to thrive. We are also dedicated to upholding our commitment to responsible investment, giving back and building workforces that are diverse and inclusive.
Pictured Here: Neil Rangwani, Regional President, Ascend
2025 Force For Good Report
Our annual Force For Good report looks back at the previous year to capture the positive impact we’ve had as a firm.
Disclosures & Endnotes
Disclaimer
This Report includes information on Alpine’s program for incorporating environmental, social and governance (ESG) considerations across Alpine’s operations and funds. Such program is subject to Alpine’s fiduciary duties and applicable legal, regulatory, and contractual requirements and is expected to change over time. Case studies presented herein have been provided for illustrative purposes only. Descriptions of any ESG or other achievements or improved practices or outcomes are not necessarily intended to indicate that Alpine has substantially or directly contributed to such achievements, practices or outcomes. The act of selecting and evaluating material ESG factors is subjective by nature, and the criteria utilized or judgement exercised by Alpine may not align with the views, beliefs or values, internal policies or preferred practices of any particular investor or other asset manager or with market trends. In gathering and reporting upon the information provided herein, Alpine may depend on data provided by Alpine’s portfolio companies or other third parties, which may be incomplete, inaccurate or out of date. Alpine makes no representation or warranty as to the accuracy or completeness of the information presented here. It should not be assumed that the portfolio companies discussed in these case studies were profitable or that future portfolio companies or experiences will be comparable. Past performance is not necessarily indicative, or a guarantee, of future results. Under no circumstances should these case studies be construed as an offer to sell, or a solicitation to buy, any security or as opinions regarding the provision of investment advisory services by Alpine.
Please see Alpine’s Terms of Use on Alpine’s website for disclosures.
Any awards and recognitions presented herein are the opinion of the respective parties conferring the award or recognition and not of Alpine. None of the awards or recognitions herein relate to Alpine’s abilities as an asset manager or are indicative of any asset management. client’s experience or prior investment performance. Alpine paid a fee to participate in certain of the awards and recognitions. The receipt of compensation influences, and is likely to present a potential material conflict of interest, relating to any granted award or recognition. There can be no assurance that other providers or surveys would reach the same conclusions as the foregoing. The inclusion of any third-party brands, logos, and/or names does not imply any affiliation with these firms of companies. There is no guarantee that Alpine will remain a signatory, supporter, or member of any ESG initiatives or other similar industry frameworks.
Certain statements about Alpine made by portfolio company executives herein are intended to illustrate Alpine’s business relationship with such persons, including with respect to Alpine’s facilities as a business partner, rather than Alpine’s capabilities or expertise with respect to investment advisory services. Case studies presented contain the opinions of past and present Alpine portfolio company executives. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Alpine-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein. Results may vary materially and adversely. Please see Alpine’s Terms of Use for additional disclaimers.
Endnotes
- $18.0 billion AUM represents December 31, 2024 regulatory AUM.
- B Labs is a global non-profit that runs the private certification of certain for-profit companies. Alpine pays an annual fee as part of its certification. For more information about the selection criteria, please visit: https://www.bcorporation.net/en-us/find-a-b-corp/company/alpine-investors.
- Alpine Investors has an affiliated charitable organization, the Alpine Social Ventures Foundation (“ASV”), which is designed to foster the development of organizations that are focused on delivering an educational or social benefit. Alpine Investors does not expect that the activities of ASV will materially conflict with any of the Funds, as ASV pursues investments of a materially smaller enterprise value than those that are expected to be targeted by the Funds; however, ASV will require certain time and resources of Alpine’s principals and personnel and it is possible that any of ASV’s investments will grow in size to be attractive to a Fund and/or compete with Fund investments. ASV will receive tangible and intangible benefits due to its affiliation with Alpine Investors, including vendor discounts, information, “know-how,” experience, analysis and data that Alpine Investors personnel receive in connection with managing the Funds or their portfolio companies, and no such benefits will be shared with the Funds or the Limited Partners. The Alpine Social Ventures Foundation is funded exclusively by capital from Alpine Investors, not by Funds managed by Alpine Investors.
