On the go: The £6.7bn London Pensions Fund Authority has committed a further £50m to The London Fund, which aims to stimulate development and enterprise in the capital.
LPFA launched The London Fund in December 2020 along with the Local Pensions Partnership and London CIV. The latest commitment by the LPFA brings The London Fund’s total investment capital to £150m.
This comes as The London Fund makes its debut investment in dedicated residential investment vehicle DOOR, which is co-sponsored by Delancey Real Estate Management and Oxford Properties.
DOOR is part owner of Get Living, a build-to-rent operator of large-scale residential neighbourhoods in the UK. It invests in housing developments in areas such as East Village, Stratford and Elephant and Castle.
This includes almost 3,000 homes under management, 1,870 homes under construction, a further 3,500 in the secured pipeline, with an overall target of 15,000 homes within the next five years.
The investment in DOOR is part of The London Fund’s focus on investment opportunities in real estate that include the private rented sector affordable housing, regeneration schemes and specialist accommodation such as senior living and co-living.
Robert Branagh, chief executive of the LPFA, said: “We firmly believe that The London Fund provides a great way for us to deliver for our fund members and provide a direct benefit to communities in London.”
He added: “Residential housing stock is one of the most pressing issues facing the city of London, so long-term, sustainable investment opportunities like that provided by DOOR can be a significant part of the solution.”
*The headline of this report has been altered to reflect the fact that the London Fund invests in a broader range of assets than property alone.
This article originally appeared on Mandatewire.com
