PfP Capital, the alternative asset manager established by Places for People Group, has today announced that it intends to launch a fund which will focus on investing in high-quality build-to-rent opportunities throughout the UK. The PfP Capital Build-to-Rent Fund, which will be managed by Alex Notay, aims to raise around £550 million.
The build-to-rent (“BTR”) fund will be seeded with three major residential development schemes across the UK, valued at approximately £150 million, which will be forward-funded through a special purpose vehicle, prior to introducing long-term capital through the Fund.
Once established, the Fund will look to forward-fund additional development opportunities comprising at least 300 units in which it can leverage Places for People Group’s significant expertise. Once fully invested, it is expected that the Fund will have forward-funded 3000 homes across six to eight high-quality, large-scale schemes targeting investment in regional towns and cities.