Five local authority funds to invest £100m in residential property

Michael Klimes
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Five local government plans have committed £100m to residential property
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Five local government plans have committed £100m to residential property

Five local government pension schemes have committed £100m collectively as cornerstone investors to a ten-year closed-end vehicle called Hearthstone Residential Fund 1 (HRF1).

The cornerstone investors include the Derbyshire Pension Fund, Nottinghamshire Local Government Pension Fund, Staffordshire Pension Fund, Teesside Pension Fund and West Midlands Pension Fund. HRF1 will...

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