An investment manager for local authority pension funds has invested £150m in private rental housing provider Get Living.
The Local Pensions Partnership said they were ‘delighted’ to be contributing to the regeneration of local communities with the investment. Get Living currently manages 2,900 homes and is seeking to expand its portfolio to between 12,000 and 14,000 through new developments.
Chris Rule, CEO of the LPP, said that investing in property was an ‘important part’ of the pension funds investment strategy.
‘Supporting large scale residential property projects is an important part of our investment strategy, and the Get Living platform presented the key characteristics that we look to add to our portfolio,’ he said.
‘This investment will support the delivery and ongoing stewardship of high-quality, affordable and professionally-managed homes. We are delighted to be contributing to the regeneration of local communities whilst also creating sustainable and resilient assets that will provide value for our pension scheme members over the long term.’