Australia: Sydney-based private equity firm Teaminvest Private Group (TIP) has launched a new wholesale managed fund with a focus on coliving.
The Coliving Future Property Fund is set to invest in coliving related assets, which may include businesses such as management firms, coliving system operators, innovation and technology firms, and other service providers.
The company says the fund will therefore contribute to providing solutions for housing affordability, accessibility, and long-term sustainable shared living. It targets investments in firms and organisations delivering tangible coliving residential assets; operators and service providers supporting coliving; and technology and application development across coliving community engagement.
“I am very excited to be heading this new fund, which intends to provide outsized stable investor returns while making a positive social impact,” said Coliving Future Property Fund chief executive Craig Wright. “Coliving properties offer high yield, the lowest risk of vacancy in the residential sector and a clear exit strategy, they can be sold on the residential market. They therefore make for an excellent investment option.”
The CFPF selects investments via Teaminvest Private’s proprietary six-step selection process “to ensure that investments are made only in those businesses that align with CFPF’s purpose and vision”.
