Real estate fund manager PfP Capital has appointed Jamie Younger as fund manager, with responsibility for its regional private rented sector (PRS) strategy, the £330 mln Picture Living platform.
Younger will replace Tim Saunders, who is retiring after seven years with PfP Capital.
Picture Living was launched in May 2018 as a joint venture between Universities Superannuation Scheme, one of the largest pension schemes in the UK by AUM, and PfP Capital’s parent company Places for People.
Younger will oversee new acquisitions alongside James Nicholls, who joined PfP Capital in December 2022 from Leaf Living.
Catherine Webster, CEO of PfP Capital, commented: 'Jamie has a proven track record across the capital stack in both the living and commercial investment sectors.
'His experience will be key as we look to quickly scale the Picture Living strategy, whilst targeting the launch of more innovative fund strategies over the medium term to meet growing investor demand in the living sector.'
To date, Picture Living has amassed a portfolio of over 1,500 single family homes and apartments, and is actively acquiring schemes of 30-to-80 units across the UK.
Touchstone, the specialist property management business of Places for People, manages the portfolio on a day-to-day basis.
Younger will also work alongside the senior management team to develop and implement new strategies.
He has over 25 years of experience in the fund management, real estate equity and credit investment space. He joins PfP Capital from Patrizia, where as head of transactions, UK and Ireland, he led a seven strong team.
Said Younger: 'PfP Capital’s unique model – as fund manager balancing profit and purpose – is very attractive, whilst it also provides a blueprint for future housing delivery in the UK.
'This is a rare opportunity to work with Cath and the highly experienced team to help PfP Capital achieve its ambitions in the critically undersupplied UK residential sector, whilst delivering positive social impact across the regions.'
