Northern LGPS commits to 5,000 new UK rental homes

Northern LGPS also pledged £375 million to a fund managed by Heim Global Investors, an affiliate of Swedish landlord Heimstaden Bostad AB.

The commitment was made to Heim Global Investor’s UK Residential Fund, which focuses on investing in mid-market rental housing and aims to build approximately 5,000 new homes in the UK.

The fund’s commitment supports the government’s goal of unlocking more private capital for infrastructure projects in the UK, while also contributing to efforts to tackle the housing shortage by aiming to build 1.5 million homes over the next five years.

Andreas Oulie, CIO of Heim, said Northern LGPS’ commitment also follows a shift in sentiment within the real estate market during the second half of 2024, with increased institutional investor demand for residential properties driven by reduced uncertainty and strong ongoing fundamentals in the sector.