(LONDON) – Hines, the global real estate investment manager, today announced that Hines European Core Fund (“HECF”) has once again asserted its leadership in sustainable practices by securing the 2024 PREA Open-End Fund ESG Award. Set up in 2006, HECF aims to provide investors with a resilient income profile and exceed benchmark performance. This recognition marks the third time that HECF has been honored with the award, highlighting Hines’s dedication to sustainable real estate investment.
Simone Pozzato, senior managing director at Hines and HECF fund manager said: “Hines has held a deep commitment to sustainability principles since our inception almost 70 years ago. Decarbonization in particular is so important for a core fund like ours because it is so highly correlated to financial performance. We embrace it so fully not just because it is the right thing to do but because when done right, it delivers efficiency for our occupiers and additional income opportunities for our investors. We are hugely proud to be recognized as an ESG leader and I am delighted to accept this award on behalf of our fund, our investors, and everyone who works on our ESG efforts for us.”
Sustainability is central to HECF’s investment strategy, and its diversified portfolio of high-quality assets located in prime locations across major European cities. HECF is a financial product falling under Article 8 of the Sustainable Financial Disclosure Regulation (SFDR). The fund’s goal is to deliver long-term value to investors and future-proof returns while providing better support and services to tenants and communities. HECF rigorously pursues responsible management and considers sustainability criteria as integral to a resilient long-term core strategy for the Fund.
The accolade, granted by the Pension Real Estate Association (PREA), recognizes private equity real estate funds with a strong sustainability focus in their investment strategies. By highlighting these industry leaders, PREA aims to showcase real estate investment firms that are successfully aligning social and environmental initiatives with strong financial performance. This marks the fourth year for the awards, with 30 submissions by funds across the categories.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $93.2B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 857 properties totaling over 270 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2023.
About PREA
Founded in 1979, the Pension Real Estate Association (PREA) is a non-profit trade association for the global institutional real estate investment industry. PREA currently lists over 700 corporate member firms across the United States, Canada, Europe and Asia. Our members include public and corporate pension funds, endowments, foundations, Taft-Hartley funds, insurance companies, investment advisory firms, REITs, developers, real estate operating companies and industry service providers.
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