Summit Partners, a $21bn US-based private equity house, has led the acquisition of the investor-backed Global Real Estate Sustainability Benchmark (GRESB) from the Green Building Certification Institute (GBCI) for an undisclosed sum.
GRESB itself has also bought a stake as part of the deal, which will see its standards spun out into a foundation.
The Amsterdam-based body was launched in 2009 by Dutch responsible pension investors PGGM and APG, and the UK’s Universities Superannuation Scheme. It counts some of the world’s largest asset owners as members, including the Ontario Teachers’ Pension Plan and South Africa’s GEPF. Japan’s $1.6trn Government Pension Investment Fund (GPIF) joined in March.
Its sustainability ESG and data benchmarks cover more than $5.3trn in real estate and infrastructure value and its work centers on the annual GRESB Survey, which investor members encourage their real estate managers to fill out.
GRESB merged with …