PfP Capital established a £550 million fund to invest in build-to-rent opportunities throughout the U.K., IPE Real Assets reported.
The investment platform will be seeded through three major residential development schemes worth £150 million and forward-funded through a special-purpose vehicle, before the injection of long-term capital through the fund.
According to the report, Alex Notay, a director of product and service innovation at Places for People, will be managing the fund, which is set to forward-fund 3,000 homes across six to eight schemes in regional towns and cities.
The fund will remain separate from PfP's traditional focus on the private rented sector, the publication added.
