An investment fund managed by the London Treasury is investing in UK real estate debt via Pluto Finance.
London Treasury Liquidity Fund (LTLF) has committed £30m (€35.8m) to Universities Superannuation Scheme-backed Pluto, to enable the UK real estate private debt manager to provide senior development and bridge financing, with a focus on affordable housing.
Richard Tomlinson, deputy CIO at London Treasury, said: “We are delighted to have had the opportunity to invest £30m with Pluto Finance, we expect this investment to deliver a secure risk-adjusted return in excess of the portfolio’s benchmark at the same time as supporting the construction of new housing stock.
“As a fund, we are at an exciting stage. Our performance since inception in April 2023 has exceeded current benchmarks, and our operations have scaled sufficiently to welcome new investors who are eager to partner with us.”
LTLF, an open-ended fund, invests pooled public sector cash resources.
Robert Swift, head of investor relations at Pluto Finance, said: “We are delighted to be working with the team at London Treasury and are aligned with their investment aim – competitive financial returns and the delivery of much needed affordable housing across the UK.
“In addition to new homes, lending in London and the South East delivers local investment and SME job creation.”
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