About Investment Management
Lendlease’s global investment management platform spans Asia, Australia, Americas and the United Kingdom
Our investment professionals manage approximately A$36.0 billion globally in property assets via funds and separate mandates.
We invest on behalf of pension funds, sovereign wealth funds, investment managers and insurance companies, offering our investment partners access to quality property assets.
A$8.7 billion funds under management1
1. Includes Lendlease Global Commercial REIT, which is a separate listed entity.
5 wholesale funds1
1. Includes Lendlease Global Commercial REIT, which is a separate listed entity.
Experienced funds management, joint ventures, creative capital solutions
Our strong investment management capability complements the world class product creation capability of the broader Lendlease Group, allowing us to deliver a range of global real estate products and solutions tailored to the needs of institutional investors. We use Lendlease’s asset management, development management, research, capital transactions, project management and construction skills, which give us a competitive advantage in creating, managing and accessing product.
Wholesale managed funds
We offer wholesale investment partners access to quality property assets across the risk/return spectrum.
A selection of our Asian-focused funds are featured below:
Asian Retail Investment Fund
Lendlease Asian Retail Investment Fund (ARIF) was incorporated in 2007 as a develop and hold, unlisted wholesale property fund. The Fund offers institutional investors the opportunity to participate with Lendlease in the development and long-term ownership of Asian retail assets, primarily in the Singapore retail market. The ARIF entities are currently in their Operational Phase and seek to maximise returns to institutional investors over the long term, with a focus on active asset management and ownership of retail/ mixed use properties. ARIF has a vision to deliver cost effective sustainability solutions across the portfolio. The Fund acknowledges the sustainability aspirations of the broader Lendlease Group and is aligned with the Group’s key sustainability objectives.
ARIF2 owns an interest in Setia City Mall (Malaysia) and ARIF3 owns an interest in Jem® (Singapore). Both assets were green field developments and are key examples of developing high quality sustainable real estate products utilising Lendlease’s integrated business model. In the integrated model, Lendlease led all phases of the project from site acquisition, development, design, project management and construction and leasing, to asset management services. Jem® and Setia City Mall are committed to participation in the annual Global Real Estate Sustainability Benchmark (GRESB) assessment and was ranked 3rd and 6th out of 20 among the Asia retail submissions respectively in 2019.
Setia City Mall houses over 200 stores over 68,000 sqm of retail space across 4 levels. The mall was awarded GBI Silver under the Green Building Index of Malaysia.
Jem® is one of Singapore’s largest suburban mall located in Jurong East. It houses over 220 stores over 50,000 sqm of retail space across seven levels, including basement level. It is the first mixed-use development in Singapore to be awarded the Green Mark Platinum version 4 and is one of the recipients of the Building and Construction Authority's Universal Design Mark Gold Plus Design Award.
Lendlease Jem Partners
Established in 2013, Lendlease Jem Partners (LLJP) is a wholesale property fund which holds an interest in Jem®, a suburban retail and office asset in Singapore.
LLJP seeks to provide core returns to Unit Holders with the potential for growth through the active asset management and long term ownership of Jem®.
LLJP has a vision to deliver cost effective sustainability solutions across the portfolio. The Fund acknowledges the sustainability aspirations of the broader Lendlease Group and is aligned with the Group’s key sustainability objectives. Jem® is committed to participation in the annual Global Real Estate Sustainability Benchmark (GRESB) assessment and was ranked 3rd out of 20 among the Asia retail submissions in 2019.
Jem® is one of Singapore’s largest suburban mall located in Jurong East. It houses over 220 stores over 50,000sqm of retail space across seven levels, including basement level. It is the first mixed-use development in Singapore to be awarded the Green Mark Platinum version 4 and is one of the recipients of the Building and Construction Authority's Universal Design Mark Gold Plus Design Award.
Parkway Parade Partnership
Parkway Parade Partnership Ltd is an open-ended wholesale property fund. The fund seeks to provide secure and stable returns to its investors with the potential for growth through ownership, active asset management and master plan extension of Parkway Parade.
PPP acknowledges the sustainability aspirations of the broader Lendlease Group and is aligned with the Group’s key sustainability objectives. Parkway Parade is committed to participation in the annual Global Real Estate Sustainability Benchmark (GRESB) assessment and was ranked 5th out of 20 among the Asia retail submissions in 2019.
Parkway Parade is an example of the Fund's ability to add value for investors by redeveloping retail centres to respond to the needs of local communities. Including the basement level, the centre has a total of seven levels of retail outlets, a food court and leisure precinct, making it one of Singapore’s largest shopping centres. Parkway Parade has been managed by Lendlease since acquisition in 2000.
Paya Lebar Quarter
Paya Lebar Quarter (PLQ) is a wholesale investment vehicle that owns the Office, Retail and Residential components of the PLQ project.
PLQ seeks to maximise total returns to its investors with the potential for growth through ownership and active asset management.
PLQ has a vision to deliver cost-effective sustainability solutions across the portfolio over the long term. The Fund acknowledges the sustainability aspirations of the broader Lendlease Group and is aligned with the Group’s key sustainability objectives.
Paya Lebar Quarter is a 4-hectare mixed-use development located at the heart of one of Singapore’s latest commercial hubs. The development offers three Grade A office towers with close to one million square feet of prime office space and amenities, retail space which spans over 340,000 square feet of shopping, dining and entertainment options as well as three residential towers comprising 429 apartments. Located between Singapore's Changi Airport and the core Central Business District, PLQ provides excellent island-wide connectivity and access to high-quality retail, F&B and public amenities.
The precinct was completed in end 2019.
Responsible Property Investment
As a fund manager, Lendlease has a duty to act in the interests of its Unit Holders.
In this fiduciary and stewardship role, we believe that environmental, social and governance (ESG) factors form an integral part of the management process in our property portfolios. We acknowledge that achieving safety, sustainability and diversity outcomes will deliver long term value for our investors, the environment and our communities.
Lendlease's company-wide sustainability governance framework provides discipline and focus for its efforts and activities on the matters most important to us and our stakeholders.
In line with Lendlease's signatory commitment under the United Nations supported Principles for Responsible Investment (PRI), we are committed to creating value for all stakeholders in everything we do by delivering positive economic, environmental and social outcomes whilst operating in an environment that is Incident & Injury Free.
Lendlease's Responsible Property Investment Policy commits us to the following actions:
Formally evaluating the impacts and risks of ESG issues in investment and management decision making.
Developing and implementing sustainability strategies for each of our managed funds, that address Lendlease's operating principles and key sustainability focus areas.
Measuring and reporting on ESG criteria.
Using green rating tools and labels, where they exist, to benchmark and disclose the ESG performance of assets and portfolios.
Engaging and sharing knowledge with stakeholders on ESG issues related to responsible property investment practices.
Collaborating with industry bodies, government agencies and like-minded stakeholders on tools, labels and incentives which promote sustainable ESG performance in the property and investment industries.
Reporting and benchmarking
To assess our performance and commit to continuous improvement, we use the following indicators:
Principles for Responsible Investment (PRI)
The United Nations-supported Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment (‘the Principles’) into practice. The Principles aim to help integrate the consideration of environmental, social and governance (ESG) issues by institutional investors into investment decision-making and ownership practices, and thereby improve long-term returns to beneficiaries. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system.
Lendlease’s Investment Management business was the first global specialist property investment management company to become a PRI signatory in November 2007.
All signatories are required to participate in the PRI’s annual Reporting and Assessment process. In July 2019, Lendlease received positive feedback on its most recent PRI submission, achieving an A+ rating for the PRI’s Strategy & Governance module (scoring 29 of 30 available points) and an A+ rating in the Property module (scoring 42 of 42 available points).
A copy of Lendlease’s 2020 Transparency Report is available here.
Global Real Estate Sustainability Benchmark (GRESB)
The Global Real Estate Sustainability Benchmark (GRESB) is a voluntary, investor led benchmarking tool that assesses the sustainability performance of property portfolios, globally. The tool covers environmental, social and governance aspects of property funds, existing buildings, new development and major refurbishments. Each participant achieves an overall score on a scale of 0–100, and also a score for its performance in each of GRESB’s dimensions – Policy & Disclosure, Implementation & Measurement, and New Construction & Major Refurbishment.
Lendlease believes that its participation in the GRESB survey provides clarity and transparency on the ESG performance of its property funds and assets on a globally consistent basis, and believes that GRESB provides necessary focus and direction for the real estate sector.