Disclosures

Delancey is committed to preventing acts of modern slavery and human trafficking from occurring within its business and supply chain, and imposes the same high standards on its suppliers.

This page includes all information related to the implementation of Sustainable Finance Disclosure Regulation (“SFDR”) for DV5 GP and DV5 LP (“DV5” or “the Fund”), and its investment adviser Delancey Real Estate Investment Management Limited (“DREIM” or “the investment adviser”).  

Integration of sustainability risks in investment decision making

DV5 GP in its capacity as the Financial Market Participant does not integrate sustainability risks, but the investment adviser appointed by the GP does. The Article 3 disclosures below apply to the investment adviser. 

Sustainability factors have the potential to impact financial performance of real estate assets while also presenting opportunities to positively contribute to surrounding communities and the environment.   

The investment adviser believes it has the fiduciary duty as well as responsibility to other stakeholders to analyse and act on sustainability-related risks throughout the asset lifecycle. Its Responsible Investment policy details the Responsible Investment philosophy and how Environmental, Social, and Governance (ESG) factors and risks are considered in the investment advisory and asset management process.  

 Please note that all references to ‘ESG factors’ and ‘ESG risks’ are equivalent to ‘sustainability factors’ and ‘sustainability risks’ as defined by SFDR: ‘Sustainability factors’ mean environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters; a ‘sustainability risk’ means an environmental, social, or governance event of condition that, if it occurs, could cause an actual or potential material negative impact on the value of the investment. 

Delancey Responsible Investment Policy 

Statement on principal adverse impacts of investment decisions on sustainability factors

The DV5 GP, supported by its investment adviser, considers principal adverse impacts of its investment decisions on sustainability factors at entity level. To ensure consistency of approach, DV5 GP ensures that the investment adviser consider the same principal adverse impacts when providing its advice. 

The Fund, supported by DREIM, considers adverse impacts on sustainability factors Specifically, these include exposure to fossil fuels through real estate assets, exposure to energy inefficient real estate assets, greenhouse gas (GHG) emissions, and energy consumption intensity. DREIM will collect the required information and data to support disclosure of the principal adverse impacts defined for the fund.

The principle adverse impacts for 2023 are found here.

Remuneration disclosure

The DV5 GP does not have a remuneration policy.  

 Sustainability-related disclosures for funds and mandates

All products managed or advised by DREIM that fall within the scope of SFDR meet the conditions set out in Article 6 of SFDR as Sustainability Risks are integrated into the investment advisory and asset management process. 

Sustainability-Related Disclosures

Under COBS 2.2.3 of the Financial Conduct Authority’s Handbook Delancey Real Estate Asset Management Limited (“DREAM”) is required to make a public disclosure in relation to the nature of its commitment to the UK Financial Reporting Council’s Stewardship Code (the “Code”) or any alternative investment strategy that it takes on.

The Code sets out a number of principles and guidelines designed to provide more transparency into how asset owners, asset managers, and proxy advisers conduct their stewardship activities related to UK equity issuers. The Code defines stewardship as the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society.

DREAM carries out investment advisory and investment management activities in private markets and real estate assets specifically, focusing on the UK market. Whilst not being a direct signatory to the Code at present, DREAM supports the Code’s objectives and many of the principles are relevant for how we are responsible owners of our assets.

Stewardship in the form of voting is not relevant for DREAM given the Firm’s investment strategy. Nevertheless, our Responsible Investment strategy outlines our approach to being a responsible developer, manager, and investor, and we engage with our stakeholders to influence risk management, value creation, and positive environmental and social outcomes. We also seek to actively engage with the wider investment community, academia, industry groups and peers on topics that are in the best interests of our stakeholders.

Our responsible investment policies and processes are overseen by our Responsible Investment Committee.