Hartelt Fund Management is a boutique fund manager, specialized in healthcare real estate. Our flagship Apollo Healthcare Property Fund has been established to respond to the growing and changing demand for healthcare facilities and senior housing.
We offer institutional investors stable cashflows and low correlated, inflation-linked income returns in combination with a significant social impact by investing in high-quality, sustainable and affordable housing and healthcare facilities for the benefit of senior citizens and healthcare providers.
Our team consists of highly experienced professionals with a strong track record in managing real estate investment funds, healthcare real estate and risk management. As a boutique fund manager we are very focused and have a strong alignment with our clients.
Our company was founded in 2013. Hartelt is located in Maastricht and is regulated as an AIFM by the Dutch Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB).
We aim to be the largest private investor in Dutch healthcare real estate by 2030, having invested at least € 1 billion in high-quality, sustainable and affordable healthcare facilities and senior housing.
SENIOR MANAGEMENT TEAM
Hartelt has a stable team of dedicated professionals with on average over 20 years of experience. Our team is multidisciplinary with a proven track record in managing institutional real estate investment vehicles, healthcare real estate and risk management.
Michel van Oostvoorn
The Apollo Healthcare Property Fund has been established to respond to the growing and changing demand for healthcare real estate. The fund invests in high quality, sustainable and affordable senior housing and healthcare facilities that benefit the well-being of residents and healthcare providers. Institutional investors in the fund benefit from stable cashflows and low correlated, inflation-linked income returns in combination with a significant social impact.
We aim to be the largest institutional investor in Dutch healthcare real estate by 2030, having invested at least € 1 billion in high-quality, sustainable and affordable healthcare facilities and senior housing.
We are always genuine and true to ourselves
We cherish the confidence our partners have entrusted us with
We are accountable for our actions and words
We are committed to our purpose and long-term strategy
Ownership of Hartelt is held by its senior management and by LIOF as a strategic minority shareholder. LIOF is an investment company owned by the Dutch Ministry of Economic Affairs and the Province of Limburg and provides growth capital for innovative companies.
- Hartelt’s remuneration policy is in accordance with and contributes to sound and effective risk management and does not encourage the taking of unnecessary or unacceptable risks for Hartelt or its clients.
- The aim of the remuneration policy is to prevent that remuneration can result in incorrect treatment of participants, taking excessive risks in the field of sustainability or other risky behaviour that can have a negative effect on the funds, on Hartelt as well as on the financial sector as a whole. Hartelt is of the opinion that the remuneration system should correlate with this in such a way that the employees involved focus on the long-term interests of the participants, the avoidance of excessive risks in the field of sustainability and the management of risks for the funds and Hartelt.
- When the compensation is performance-related, the total amount of the compensation is based on a combination of the assessment of the performance of the employee concerned, the relevant business unit and the results of the financial institution as a whole. Both financial and non-financial criteria are used in assessing personal performance. Sustainability aspects are not part of this.
- The total wage bill of the Hartelt is stated in the annual reports of the funds and of Hartelt.
- The policy is subject to change without notice and will be published here.
Hartelt has been a signatory of the PRI (Principles for Responsible Investment) since 2017. PRI is supported by the United Nations and is the world’s leading proponent of responsible investment. Hartelt has also been a member of GRESB since 2016. GRESB is the Global Real Estate Sustainability Benchmark, an investor-driven organization committed to assessing the ESG performance of real assets globally.
Impact investing with care
The mission of the Apollo Healthcare Property Fund is to initiate and manage long-term partnerships with institutional investors and healthcare providers to meet the growing and changing demand for affordable, sustainable care housing and facilities. By doing this, it provides high-quality healthcare real estate in the Netherlands, fulfilling the need for healthcare accommodation and facilities to improve the lives of people who need healthcare. Investments in healthcare real estate yield secure (direct) income that are linked long-term to inflation, whilst contributing to a basic need for people. Healthcare consumers as well as healthcare providers benefit from sustainable accommodation and facilities.
Promoting sustainable characteristics
The Investment Strategy of the Fund is specifically aimed at investing in affordable and sustainable high-quality healthcare accommodation and facilities to improve the lives of people who need healthcare. The Fund Manager takes the view that as the Fund promotes sustainable characteristics, it is in scope of article 8 of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”). It promotes environmental characteristics by assessing the energy performance of every invested property of the Fund and if needed the Fund will gain insight in the possibilities for improvement of that energy performance. Furthermore, the Fund promotes environmental characteristics by taking principle adverse impacts into account.
Next to the environmental characteristics the Fund promotes social characteristics by investing in affordable, sustainable care housing and facilities. The Fund invests as much as possible in healthcare properties that are categorised in the affordable and/or mid-market rental segment. The Fund is expected to achieve the promotion of sustainable investment by:
1. investing only in real estate properties that:
a. meet a minimum GPR score of 7.0 (in case of existing properties) or 7.5 (in case of newly-built properties) on a scale from 1-10 in the following areas:
We assess the energy performance of each property and gain insight into the possibilities for improvement.
Raw materials are becoming scarcer and more expensive. The built environment consumes more than 30% of the raw materials and causes harmful emissions. Renovating or demolishing existing buildings limits harmful emissions and depletion of raw materials.
People spend a large part of the day in a home, office or school. But the indoor environment is often unhealthy. The aim of this theme is the realization of healthy buildings. Think of limiting noise pollution, sufficient fresh air, comfortable ventilation and sufficient daylight.
iv. Quality of use
Society is aging. But we want to live at home longer. Care and housing must therefore be combined. Young people, families or the disabled have different needs. And everyone wants a safe living environment.
v. Future value
There are neighbourhoods where people do not want to live and neighbourhoods that are popular. If the environment is dear to people, the value of the property increases. With a good score on this theme, a property can be adapted to changing user requirements or legislation and regulations without high costs or much material waste. This means taking into account the change of function and amenity value of the environment during construction or renovation.
The GPR score of each property is assessed by external parties to ensure an independent judgement.
b. are categorised in the affordable and/or mid-market rental segment.
2. taking the following PAI’s in to account: Energy efficiency, greenhouse gas emission, energy consumption, water and waste.
There are investments in the Fund that are or could be in economic activities that contribute to climate mitigation or climate adaption. Those investments may be eligible to be assessed against the screening criteria of the Taxonomy regulation. However, we are currently not able to demonstrate this, due to a lack of reliable data. Therefore, it is impossible for the Fund to determine the extent (or percentages) of those investments that are in compliance with the Taxonomy Regulation and qualify as environmentally sustainable investments. We will monitor the existence of this information actively and once sufficient and reliable data will become available, we will update this document. The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. Currently, as explained above the Fund cannot assess whether the investments of the Fund take into account the EU criteria for environmentally sustainable economic activities.
HARTELTS IMPACT SO FAR
Hartelt not only has sustainable investments as its objective, as a company Hartelt also wants to reduce its emission footprint on our planet. To create an impact, we have joined Regreener, a platform for individual contributors and companies, whose mission is to fight climate change, tree by tree. Via supscriptions we can help plant trees all over the world, prevent deforestation and help make the shift from fossil fuels to green energy.
PRINCIPAL ADVERSE IMPACTS
In addition to sustainability risks, Hartelt also considers principal adverse impacts of its investment decisions on sustainability factors. Hartelt has therefore a Principal Adverse Impacts (PAI) statement.