German real estate investment manager PATRIZIA has restructured its ESG team to further strengthen its sustainability and impact investing commitments. Managing Director Mads Rude will continue to lead PATRIZIA Global Partners and retain overall responsibility over impact investing, supported by Marleen Bikker-Bekkers as the key Fund Manager of PATRIZIA Sustainable Communities. The firm has also promoted Edward Pugh to Head of Sustainability after nearly three years at PATRIZIA. He replaces the outgoing Mathieu Elshout, who has left to join Australian Superannuation fund Aware Super after three and a half years as Head of Sustainability and Impact Investing, during which he developed PATRIZIA’s ESG strategy. Under the new structure, PATRIZIA plans to accelerate its ESG objectives across its global real-assets platform by deploying dedicated internal resources and expertise in impact investing and sustainability. These goals, the firm said, include becoming a “leading” sustainable investor in real assets with consistent PRI 5* rating from 2025 onwards, and achieving net zero carbon status across its corporate operations and portfolio by 2040 or earlier. The firm stressed the importance of impact investing as a central pillar of its ESG strategy, launched in 2022 and since deployed across a €500 million (US$537.4 million) investment programme into social and affordable housing across Europe. “We wish [Mathieu] all the best as we build on his excellent work ensuring sustainability remains a key enabler for creating and protecting value for PATRIZIA’s investors and broader stakeholders, in a world deeply in transition,” said Mahdi Mokrane, Head of Global Investment Strategy, Research and Investment Solutions at the firm. “With Mads and Edward, we are thrilled to have two exceptional industry professionals driving the future growth of our impact investing platform as we look to launch further vehicles, alongside ensuring the meticulous stewardship of our group-wide sustainability strategy.”
