About Investment Management
Our investment professionals manage approximately A$40.0 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.
Lendlease has launched a new investment platform to develop and hold multifamily assets in US gateway cities. Lendlease is the platform's development, construction and investment manager. The vehicle was seeded with $1b in equity and assets from two existing Lendlease multifamily projects that are currently being completed in Chicago (Southbank) and Boston (Clippership Wharf) with end value of more than US$400 million.
The new multifamily investment vehicle is consistent with our strategy of leveraging Lendlease’s integrated property capabilities to deliver high-quality urban regeneration projects that enhance people’s lives, while simultaneously creating value for our investment partners and shareholders.
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 (RPI)
Principles for Responsible Property Investment
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)
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 – Management & Policy, Implementation & Measurement, New Construction & Major Refurbishment, Health & Wellbeing and Resilience.
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.
In 2019, several funds in Lendlease's Investment Management business were recognised as leaders in responsible property investment by GRESB. Australian Prime Property Fund Commercial (APPF Commercial) was ranked first globally of all 964 respondents. This is the fifth time that APPF Commercial has attained the top ranking, having achieved the same result in 2014, 2015, 2017 and 2018. Lendlease International Towers Sydney Trust (LLITST) was ranked third overall globally and third in the office sector across listed and unlisted funds. Australian Prime Property Fund Retail (APPF Retail) was ranked first in the retail sector across listed and unlisted funds and an overall rank of fifth out of 964 respondents. Lendlease Sub-Regional Retail Fund (LLSRF) also achieved strong results, ranked third in the global retail sector across listed and unlisted funds and an overall global rank of 10th. APPF Industrial was ranked first in the Oceania private unlisted industrial fund category.
Detailed GRESB results are disclosed on the respective fund pages.