Edmond de Rothschild Real Estate Investment Management (REIM) has received £155m (€179m) worth of capital commitments for its two UK residential investment funds.

The Edmond de Rothschild Residential Investment Fund UK has raised £135m from European institutional investors at its second close and Funding Affordable Homes (FAH), which invests in affordable housing, has raised £20m.

The manager said the Edmond de Rothschild Residential Investment Fund UK, which was launched in August 2018, has now raised £266m, giving it total firepower, including debt, of around £450m.

The fund’s first six assets are forward funding agreements in Leicester (two sites), Birmingham (two sites), Warrington and Nottingham.

Edmond de Rothschild REIM said FAH’s new equity will enable it to continue ”delivering new affordable housing within the regulated housing sector, while providing investors with long and secure indexed-linked income streams”.

FAH has already acquired, or committed to buy, around £170m of socially beneficial housing projects in London, the east and south of England and other parts of the country, the manager said.

FAH’s current investors include Big Society Capital and the Joseph Rowntree Foundation.

James Whidborne, head of residential fund management UK at Edmond de Rothschild REIM, said: “We are delighted with the support shown by investors towards our social impact residential investment strategy, both for private sector build-to-rent and regulated affordable 

“We believe the current environment provides an excellent opportunity to create a diversified portfolio of UK rental. assets delivering the panacea of sustainable investor returns and genuine social impact. This is at the heart of Edmond de Rothschild’s core convictions.”

To read the digital edition of the latest IPE Real Assets magazine click here.

Topics

Related Companies