UK: Swiss Life Asset Managers and True North Management have created a partnership to invest in the UK co-living sector, with Swiss Life taking a minority stake in True North.
Founded in 2021, True North launched its first coliving project, Holm Wimbledon Park, in London. It has since acquired a second asset in a London Zone 1 location for another coliving space.
Per Erikson, head of real estate at Swiss Life Asset Managers, said: “The coliving sector presents an exciting opportunity within the real estate market, particularly in the UK. We remain focused on exploring new opportunities as we expand our portfolio. True North’s expertise in coliving development, coupled with Swiss Life Asset Managers’ residential know-how and investment capacity, offers the opportunity to become a leader in the evolving co-living landscape.”
Jill Ju, founder and CEO at True North Management, said: “Both organisations share a purpose of enabling people and thinking long-term, which made Swiss Life Asset Managers an ideal partner for us. We both see the value of a partnership between a team of entrepreneurial experts and a supportive long-term investor. We are working on an expansive pipeline of new sites to grow our UK portfolio. There is a lack of established investment vehicles in this asset class, and we aim to create a fund vehicle that would enable mission-aligned capital partners to join us on this journey.”
