PGIM Real Estate’s Impact Value Partners (IVP) fund, one of the first institutionally managed woman-led impact investing funds in the industry, announced the results of its 2020 GRESB Real Estate Assessment. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
Since 2013, PGIM Real Estate has been a member of GRESB, an investor-driven organization that assesses and benchmarks the ESG performance of real assets.
IVP’s 2020 GRESB submission resulted in top recognition, including:
- #1 in Resilience
- #1 of 15 Americas/Non-Listed/Value-Add/Closed-End Funds
- 4-Star Rating, ranking among the highest in its peer group
- 30 of 30, points earned for Management
- Outperformed each of the GRESB benchmark averages across E, S and G
- 84 Development score earned (against highest peer score of 87)
Lisa Davis, portfolio manager for IVP, said: “Our GRESB results are the outcome of the high standards that we set for environmental sustainability in the fund, and the implementation of our market-leading impact reporting.”
“As we continue to measure our ongoing progress as a pioneer in impact investing, these results clearly demonstrate that we are in a strong standing to achieve our objectives for IVP – a dual mandate of achieving market-rate financial returns while creating healthy, safe and affordable communities for people with moderate and low income.”
IVP targets investments in U.S. affordable housing and mixed-use transformative developments. The fund is focused on investments in underpriced locations across major U.S. markets with anticipated population and economic growth.