Hearthstone

Final Close Of The Hearthstone Residential Fund 1 announced

  • 11 Mar 2019

Hearthstone Investment Management Limited, an institutional investment manager specialising in UK residential property (private rented sector), has announced the final close above target of its ten year closed-ended private equity fund, Hearthstone Residential Fund 1 (HRF1), with just over £200 million.

The Merseyside Pension Fund and the Tyne and Wear Pension Fund have joined as new limited partners in the final investment round bringing the total number of investors to seven UK local authority pension funds.

The original first close investors were the Derbyshire Pension Fund, Nottinghamshire Pension Fund, Staffordshire Pension Fund, Teesside Pension Fund, and the West Midlands Pension Fund.

Cllr Paul Doughty, Chair of Merseyside Pension Fund, commented: “Since achieving its first close in December 2017 with assets of just over £100 million, HRF1 has consistently delivered on its investment strategy focused primarily on new build housing and low-rise blocks of flats across the UK regions.

“To date the fund has invested in the Midlands, the North West, the North East Region, Southern England and Wales. Its objective is to build and manage to a high standard a portfolio of mainstream rental properties with the interests of tenants, their communities and institutional investors aligned.

“This is consistent with our objective to support needed housing development in the region.”

Cristoforo Rocco di Torrepadula, Partner and Director of Investor Relations, Hearthstone Investment Management, explained: “We are delighted to close on schedule our first fund, HRF1, in this key sector. Exceeding our target fund size is a powerful affirmation of our strategy and ability to source, acquire and manage desirable properties in locations that offer sustainable employment, social and community infrastructure and that combine the aspirations of tenants with the stable income returns expected by our institutional investors.”

Leave a Reply

Latest news

MCRMA

Two construction businesses announce MCRMA membership

The MCRMA’s membership has grown further, with the approval, as members, of two businesses providing very different types of products and services to the metal building envelope sector.

Posted in Articles, Building Associations & Institutes, Building Industry News, Building Products & Structures, Building Systems, Cladding, Facades, Paints, Paints, Coatings & Finishes, Restoration & Refurbishment, Retrofit & Renovation, Roofs, Walls

Vandersanden
Abloy

Abloy UK’s eCLIQ achieves UK Gold standard for Retrofit PAS24 Doorsets

Abloy UK is proud to announce its eCLIQ Electronic Key/Cylinder Locking System has achieved Gold standard certification in both SS504:2024 Smart Locks for Domestic and Similar Building and SS312:2024 Cylinders for Locks from Sold Secure.

Posted in Access Control & Door Entry Systems, Architectural Ironmongery, Articles, Building Industry News, Building Products & Structures, Building Regulations & Accreditations, Building Services, Doors, Facility Management & Building Services, Health & Safety, Information Technology, Retrofit & Renovation, Security and Fire Protection

Rooflight Association

The Rooflight Association and MCRMA join forces

The Rooflight Association and MCRMA (Metal Cladding and Roofing Manufacturers Association) have agreed to collaborate closely on a number of design, specification and safety issues relating to industrial and commercial buildings and warehouses.

Posted in Articles, Building Associations & Institutes, Building Industry News, Building Products & Structures, Building Services, Cladding, Facility Management & Building Services, Glass, Glazing, Health & Safety, Lighting, Restoration & Refurbishment, Retrofit & Renovation, Roofs, Walls, Windows