Patrizia has hired PGGM Investments’ Mathieu Elshout to lead its newly created sustainability and impact investing role.

The €46bn real assets manager said Elshout’s appointment is a strategic hiring move that strengthens the development of new impact fund products and “further drives the integration of sustainability into the company’s core investment processes”.

Elshout, who starts his new role in March, joins from PGGM where he last held the position of senior director real estate EMEA responsible for pan-European investments. He was also responsible for delivering high sustainability performance across the private real estate portfolio of PGGM.

He is currently a non-executive director at real assets sustainability benchmark provider GRESB, a sustainability product council co-chair at Urban Land Institute and also a member of the investor advisory council at real estate association INREV.

Anne Kavanagh, member of the management board and CIO at Patrizia, said: “Our clients increasingly demand investments that generate measurable positive social and environmental impact besides solid financial returns.

“Elshout will have overall responsibility for sustainable and impact fund strategies that will become a cornerstone of our company-wide investment focus.”

”With my track record in sustainable real estate investing and having served on the board of GRESB as a non-executive director, as well chair of INREV’s sustainability committee and ULI’s sustainability product council, I am really excited to help Patrizia deliver on its purpose of building communities and sustainable futures,” said Elshout.

Elshout will initially be based in the Netherlands.

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