In brief: Nuveen targets $15bn real estate impact opportunity

The group has appointed New York head Nadir Settles as global head of impact investing.

Asset management giant Nuveen will “address some of the most pressing social and environmental challenges in the US, Europe, and the Asia-Pacific region” through its $152 billion real estate investment unit, the firm said.

The group has appointed its New York head Nadir Settles to take on the role of global head of impact investing, and Pamela West, also based in New York, as senior portfolio manager, impact investing. The firm’s announcement does not mention specific fund launches, but refers to the platform as “supporting growth goals of up to $15 billion in real estate AUM by 2026”.

Says the firm: “The new real estate impact sector will invest in early-stage projects and take an impact-led approach to increase the supply of social and affordable housing by targeting low-income and disadvantaged populations, while also focusing on regeneration projects within healthcare, education, and transportation services.”