The S in ESG is gaining more and more traction. Companies are discovering that having a positive impact on their workers, their community and society as a whole is not just the right thing to do, but it is also what investors want, as Juergen Fenk, CEO, Primonial REIM explains in the CEO interview in the new edition of Real Asset Impact.
“The S component of ESG makes it more interesting for investors, and we see this,” he said. “We see a successful fundraising on our pan-European fund but, in our retail distribution, we see a lot of interest from retail customers as well. So we are very keen on this asset class, going forward”.
Primonial REIM is the biggest healthcare real estate manager in Europe. The prominent role the asset class has played for the company is the result of close relationships with the large French operators. The largest five operators in France are the largest five in Europe.
The company now has more than €10 billion assets under management in the wider healthcare sector, which includes senior living, clinics, and the entire spectrum, with a presence in seven countries in Europe.
Fenk joined Primonial REIM as chief executive in March 2021 with a goal to turn a great French champion into a European champion. He has pursued an expansion strategy in new markets, opening offices in London and Singapore, but has also kept a close eye on sustainability, systematically integrating ESG criteria into the investment and management process.
ESG is a key element of the company’s strategy at three levels, he explains: the corporate level, which involves activities, labels and instruments; the fund level, which involves transforming funds into Article 8 or into Article 9. And finally at the asset level, which involves collecting all the data and getting the intervention strategy right.
“It’s not just marketing, it’s a real conviction,” Fenk said. “We try to find ways to get to a better world and a better built environment with others.”
Download Real Asset Impact to read the whole interview.