Fore Partnership is hunting for equity for a new fund targeting up to £300m, with its sights set on a fundraising for Q1 next year.
The ethical investor and developer is understood to be looking to raise the cash for new investments focusing on sustainable value in the office and living sectors.
The firm was forced to put its fundraising plans on ice earlier this year after the pandemic caused many would-be investors to pause new deals.
But managing partner Basil Demeroutis has told EG the company is now holding “meaningful discussions with potential cornerstone investors”.
The company is aiming to get to a first close on its new fund in the first quarter of 2021, he said, with a target of £250m to £300m.
“We have demonstrated that investors do not have to accept lower returns for the ‘good feeling’ generated by positive social and environmental outcomes – deals need to stack up on their own,” said Demeroutis.
“We firmly believe that our purposeful approach to real estate in fact drives financial value, and from our initial discussions it seems investors increasingly are aligned with this approach.”
It comes after Fore achieved B Corporation status earlier this month, following a management buy-out of the business in April. That involved buying out a 32% stake held by Edmond de Rothschild Real Estate IM.
