Partitioned global address space (PGAS) languages provide a unique programming model that can span shared-memory multiprocessor (SMP) architectures, distributed memory machines, or cluster ofSMPs. Users can program large scale machines with easy-to-use, shared memory paradigms. In order to exploit large scale machines efficiently, PGAS language implementations and their runtime system must be designed for scalability and performance. The IBM XLUPC compiler and runtime system provide a scalable design through the use of the shared variable directory (SVD). The SVD stores meta-information needed to access shared data. It is dereferenced, in the worst case, for every shared memory access, thus exposing a potential performance problem. In this paper we present a cache of remote addresses as an optimization that will reduce the SVD access overhead and allow the exploitation of native (remote) direct memory accesses. It results in a significant performance improvement while maintaining the run-time portability and scalability.