UK: Long Harbour has announced the first close of its Single-Family Housing Fund, which has been seeded by The Korea National Pension Service with £300 million.
The investment is the pension fund’s first in the sector.
Long Harbour will manage the fund, which has an initial target of up to £600 million of capital to deploy and in total is targeting £1.6 billion.
The Single-Family Housing Fund is targeting the delivery of 5,000 SFR homes across the UK, mainly in the south and south-east of England. Homes will be managed Long Harbour’s operating arm Way of Life, and will be delivered through forward purchases, acquiring forward funding and completed developments.
Jack Spearman, managing director at Long Harbour, said: “Our ambition through the launch of this fund is to address the undersupply of high quality, energy efficient and modern, suburban housing in the UK. As head of this fund, I look forward to playing our part in bringing further institutional investment into UK housing.”
Long Harbour hopes to hold its second close for the fund in 2025, and its final close in 2027. It launched its SFR platform in April 2023.
