Impact Strategy

Kairos Impact Strategy

Investment Approach

The Impact Strategy purchases, owns, and manages affordable housing including low-income housing tax credit (LIHTC), self-regulated market rate, manufactured housing, and 55+ communities.

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Inception: 2016
Strategy Size: $1 billion target
Investment Type: Core plus real estate
Capital Structure: Equity; emphasis on fee equity
Property Type: Affordable housing; emphasis on LIHTC properties
Region: Diversified U.S. exposure; emphasis on secondary markets and high growth markets
Investment Size: $5 million – $30 million per asset
Target Leverage: 50%
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Impact Approach

PROVIDE QUALITY AFFORDABLE HOUSING

Provide quality affordable housing as a means to affect change and directly impact the lives of tenants across the United States.

MAKE ENVIRONMENTAL IMPACT INVESTMENTS

Make environmental impact investments in water conservation, energy efficiency, and waste reduction improvements in properties.

PROMOTE POSITIVE SOCIAL IMPACT

Promote positive social impact and community support through resident programs that are tailored based on the demographic of tenants and their specific needs.

FY 2020 Environmental & Impact Savings

Reflects 2020 savings across all Kairos owned properties where utility savings projects were installed.

36.7 Million

Gallons Less Water

1,756,880

kWh Less Electricity

27,703

Participations in Social Programs

$568,273

Annual Expense Cost Savings

Recognition

5.9 Years

Average Payback

17.0%

Return on Cost

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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 our 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. IA50 is a representative list of funds from across the impact investing ecosystem. The database is updated annually to help investors and advisors identify experienced impact investment firms. The initiative is led by ImpactAssets, an independent nonprofit originally created by Calvert Impact Capital, which seeks to increase the flow of capital into investments delivering financial, social, and environmental returns. For inclusion in the ImpactAssets 50, a fund manager must:

(1) Have 3+ years of experience as a firm in the impact investing field,

(2) Have at least $25 million in assets under management,

(3) Operate in more than one country, in a country with significant population; and /or in a sizable region of the United States,

(4) Manage assets that are recoverable,

(5) Accept US investment,

(6) Have demonstrated financial capacity/oversight; and

(7) Demonstrate significant commitment to social impact and track clear measures of social and/or environmental impact (GIIRS rating, use IRIS metrics, or other indicators to be determined). In 2020, there were 95 fund managers considered for IA50 and 62% of those are included in the list. In 2019, there were 94 fund managers considered for IA50 and 54% of those are included in the list. In 2017-18, there were 86 fund managers considered for IA50 and 58% of those are included in the list.  No fee was paid to be considered for this recognition.

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