Hearthstone Residential 1 achieves final closing
0Hearthstone Residential Fund 1 has achieved final closing with two new LGPS funds joining the original five schemes at the first closing in December 2017.
The Merseyside Pension Fund, and the Tyne and Wear Pension Fund have joined the original investing pension funds of Derbyshire, Nottinghamshire, Staffordshire, Teesside, and West Midlands.
Hearthstone Residential is ten-year close-ended private equity fund, investing in new-build housing and low-rise flats in the UK regions.
Cllr Paul Doughty, chair of Merseyside Pension Fund said: “Its objective is to build and manage to a high standard a portfolio of mainstream rental properties with the interests of tenants, their communities and institutional investors aligned.
“This is consistent with our objective to support needed housing development in the region.”
