Minority Business Enterprise certified by National Minority Supplier Development Council
Recognition is not indicative of future performance. The National Minority Supplier Development Council (NMSDC) defines a minority business enterprise (MBE) as a for-profit business that is at least 51% owned, managed, and controlled by a member(s) of a qualified group defined by the U.S. Equal Employment Opportunity Commission. Eligibility is established by conducting a series of reviews, screenings, interviews and site visits. NMSDC’s rigorous certification and recertification processes have stringent standards to identify bona fide minority businesses which distinguishes NMSDC from other organizations or entities that publish directories allowing for “self-certification.” These procedures help measure overall performance and progress. A standard recertification fee was paid when the application and required documents were submitted for review. No other fee was paid to be considered for this certification.
The following criteria are required for certification/recertification:
(1) Must be a for-profit enterprise and physically located in the United States or its trust territories;
(2) 51% qualifying applicant(s) must be a United States citizen;
(3) Minority businesses must be at least 51% minority–owned, managed and controlled. For the purposes of NMSDC’s program, a minority group member is an individual who is at least 25% Asian-Indian, Asian-Pacific, African-American/Black, Latin American/ Hispanic, or Native American, Native Hawaiian/Alaska Native. Minority eligibility is established via a combination of document reviews, screenings, interviews and site visits. Ownership, in the case of a publicly owned business, means that at least 51% of the stock is owned by one or more minority group members; and
(4) Management and daily operations must be exercised by the minority ownership member(s).
NMHC Top 50 Owners by the National Multifamily Housing Council
Recognition is not indicative of future performance. The NMHC Top 50 Owners is an annual list of the National Multifamily Housing Council’s authoritative ranking of the nation’s Top 50 Owners based on portfolio size as of January 1, 2025. To compile the NMHC 50 lists (of which NMHC Top 50 Owners is one), NMHC gathers names of owners, managers, developers, general contractors/builders and syndicators from as wide a range of sources as possible and contacts staff from each firm that completes the survey online. NMHC Top 50 Owners includes both member and non-member firms. Kairos is a member of NMHC and pays annual membership dues, but no fee was paid to be considered for this recognition.
All definitions and the methodology behind the NMHC 50 lists may be viewed at this link. The following definitions are relevant to NMHC Top 50 Owners.
Owners include: Owners (partial or full) of multifamily (defined as five or more units) rental properties, including independent living and age-restricted housing. In the case of partnerships and investment funds, the owner is the entity – typically the managing general partner – that exercises effective control over the asset.
Owners do NOT include: syndicators – firms that purchase tax credits in order to serve as a general partner with a minority interest; investment fund managers that do not exercise effective control over the units; pension fund advisors that do not exercise effective control over the units; general partners for investors who serve as limited partners; or owners of condominiums, cooperatives, hotel rooms, nursing homes, hospital rooms and mobile homes.
What counts as units: units that are in the United States only; and unit counts, not bed counts.
PRI
Recognition is not indicative of future performance. The United Nations-supported Principles for Responsible Investment (PRI) initiative is a network of international investors working together to put the six Principles for Responsible Investment into practice. The PRI were devised by the investment community and reflect the view that environmental, social and governance (ESG) issues can affect the performance of investment portfolios (to varying degrees across companies, sectors, regions, asset classes and through time) and therefore must be given appropriate consideration into investment and ownership decisions when consistent with fiduciary responsibilities. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system.
In signing the Principles, signatories publicly commit to adopt and implement them, where consistent with their fiduciary responsibilities. Signatories also commit to evaluate the effectiveness and improve the content of the Principles over time. Signatories believe this will improve their ability to meet commitments to beneficiaries as well as better align their investment activities with the broader interests of society.
For more information regarding the Principles for Responsible Investment, please click here. No fee, other than the standard application fee, was paid to be considered for this certification.
ImpactAssets 50
Recognition is not indicative of future performance. ImpactAssets 50 (IA 50) is a representative list of funds from across the impact investing ecosystem. The publicly available database is composed of experienced and emerging private debt and equity impact investment fund managers committed to generating positive impact. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes. The database is updated annually to help investors and financial advisors identify experienced impact investment firms. The initiative is led by ImpactAssets, an independent nonprofit originally created by Calvert Impact Capital, which strives to increase the flow of capital into investments delivering financial, social, and environmental returns. The IA 50 is not an index or investable platform and does not constitute an offering or solicitation to buy or sell securities or a private placement or recommend specific products. Inclusion in the IA 50 List is not an endorsement of any of the listed fund managers and does not replace due diligence. For inclusion in the IA 50 2025 List, a fund manager is evaluated at the firm level for the following IA 50 Baseline Criteria: (a) 5 year minimum operating history, (b) operate in more than one country, in a country with significant population, in a sizable region of the United States, and/or an area where local funding is insufficient to support community needs, (c) manage assets that are recoverable, (d) accept US investment, (e) have demonstrated financial capacity/oversight, and (f) have demonstrated significant commitment to social impact and have tracked clear measures of social and/or environmental impact (GIIRS rating, use IRIS metrics, or other indicators to be determined). To be designated as an Emeritus Manager, a fund manager must meet the IA 50 Baseline Criteria as well as: (a) have a minimum of 5 years on the IA 50, (b) have demonstrated commitment to impact thesis and are actively investing. Emeritus Managers are selected based on the size and composition of the application pool. In 2025, there were 340 fund managers considered for IA 50 and 49% of those are included in the list. No fee was paid to be considered for the recognition.
Preqin
Recognition is not indicative of future performance. The criteria on which the rating was based is as follows:
(1) The top performing funds league table is ranked by net IRR; and
(2) The most consistent top performing fund manager table is based on the average quartile ranking of a manager’s funds.
The entire pool of real estate funds is ranked within each vintage year according to its net IRR. The funds are given a score based on their quartile: 1 for top-quartile funds, 2 for second quartile funds, and so on. This is the fund’s ‘quartile ranking’. A manager’s average quartile ranking is the average of all of the funds’ quartile scores, with a minimum of three funds required in order to appear in the table. The average quartile rankings can vary from 1.00, for a fund manager with only top-quartile funds, to 4.00 for a fund manager with only bottom-quartile funds. Rankings are constructed independently using Preqin’s proprietary database of real estate funds. No fee was paid to be considered for this recognition.
Kairos Investment Management Company was ranked 35th in a universe of 234 private real estate firms (all vintages). The rankings are compiled for funds across all vintage years and only include funds that have called at least 50% of committed capital. The IRR is used as the key determinant of performance.
The recognized fund was ranked 8th in a universe of 974 vintage 2008-2017 private real estate funds. Only funds for which Preqin assigns a quartile ranking are eligible to be featured. Only active fund managers that raised at least three funds of a similar strategy and raised a similar strategy fund since 2010 are considered. To receive a top performers badge the firm/fund must appear in the Preqin Global Report. The report featured 20 top performing funds and 41 top performing managers.
