EC2: Nature of Ownership
Maximum Score
Not scored
Prefill
Eligible
Validation
Evidence is not required
2026 Updates
None
What is the nature of ownership?
Assessment Instructions
Intent: What is the purpose of this indicator?
Describe the ownership status and characteristics of the participating entity.
Input: How do I complete this indicator?
Select the nature of the participating entity. Select at least one of the applicable sub-options and provide details if applicable. Entities reporting to GRESB are expected to represent investable vehicles, and these entities are expected to represent all infrastructure assets held by the vehicle (i.e., the whole portfolio).
Note: GRESB Infrastructure Investor Members that invest in listed infrastructure securities have access to the results of all listed entities that participate in the GRESB Infrastructure Assessments. Publicly traded closed-end funds should be considered non-listed entities, given their level of disclosure requirements.
Other: Other answer must be outside the options listed in the indicator to be valid.
Terminology
Closed-end fund
An investment vehicle with a fixed amount of capital. Limited liquidity, with the redemption of units provided for at the end of the life of the vehicle.
Core, Value Add, Opportunistic
These are classifications of investment risk and return sometimes used by infrastructure investors. GRESB does not seek to define these but merely requires participants to select if they apply one of these classifications.
Debt
A fund or similar entity that has been set up for the purposes of issuing or investing in loans or bonds.
Direct investment
The purchase of a controlling interest or a minority interest of such size and influence that active control is a feasible objective.
Government entity
An entity owned and managed by the government.
ISIN
International Securities Identification Number. ISINs are assigned to securities to facilitate unambiguous clearing and settlement procedures. They are composed of a 12-digit alphanumeric code and act to unify different ticker symbols, which can vary by exchange and currency for the same security. In the United States, ISINs are extended versions of 9-character CUSIP codes.
Joint venture
A vehicle where at least two parties share a common investment objective. Control over significant risk management decisions is not transferred to an external manager, but is exercised by members in the venture.
Open-end fund
An investment vehicle with a variable and unlimited amount of capital. Investors may purchase or redeem units or shares from the vehicle as outlined in contractual agreements.
Private entity
An entity of preponderantly non-core investments that is expected to derive most of its return from appreciation/ depreciation and/ or which is expected to and may exhibit significant volatility in returns. This volatility may be due to a variety of characteristics, such as exposure to development, significant leasing risk, high leverage, or a combination of moderate risk factors. High-risk entities that invest in greater yielding assets; for example, developments without pre-leasing, properties involving significant repositioning or that are distressed, and large portfolio acquisitions, purchased to be re-packaged and sold in smaller lot sizes. Opportunity funds generally maintain higher leverage limits and have shorter holding periods for assets.
Public entity
A company that is publicly listed and traded on a recognized stock exchange, such as Nasdaq or NYSE. Also known as "listed entities”.
Separate Account
SMAs, also referred to as managed accounts, wrap accounts or individually managed accounts, are portfolios managed exclusively for the investor according to their investing and tax preferences and requirements. The investor owns the underlying assets directly, unlike a mutual fund.
Special Purpose Vehicle
Subsidiary created by a parent company to isolate financial risk. Its legal status is of a separate company, with its own balance sheet.
Scoring
This indicator is not scored.
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