Heim’s UK Residential Fund has successfully completed its first close with initial commitments totaling £375 million. The fund, which is supported by a range of UK Local Government Pension Schemes, is designed to provide investors with a unique opportunity to tap into the critically undersupplied UK housing market.
The fund aims to develop 5,000 new homes, focusing on mid-market rental housing, and is well on track to reach its £800 million target. With construction activity in the UK at historically low levels, the fund is positioned to play a significant role in increasing the supply of new rental properties across the country.
A key supporter of the initiative is the Northern LGPS Pool, a large £60 billion+ local government pension scheme pool that includes Greater Manchester Pension Fund, West Yorkshire Pension Fund, and Merseyside Pension Fund. The partnership highlights a shared conviction in the potential of mid-market rental housing in the UK’s larger regional cities.
The first close of the UK Residential Fund has bolstered its investment capacity, positioning it for a high level of transaction activity in 2025. The fund is targeting further fundraising closings throughout 2025, with a goal of achieving its £800 million target and scaling a portfolio of 5,000 homes.
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