Moorfield Group has raised an initial £330m for MREFV, the latest fund in its value-add series.
The equity raised has come from institutional investors based in Europe, North America and Japan, said Moorfield, plus its first UK-domiciled investors, a number of university college endowments.
Moorfield said it planned to raise a further £250m for investment, with vehicles planned to find opportunities initially in self-storage and build-to-rent, with purpose-built student accommodation, co-living, logistics and industrial open storage following.
In total, Moorfield is targeting £1bn of investment in the UK.
Charles Ferguson Davie, co-chief executive and chief investment officer at Moorfield, said: “All our target sectors are marked by an undersupply of fit-for-purpose product, low levels of institutional ownership and demographically driven tailwinds that will help propel their growth through the coming cycle and beyond.”
Executive chairman Marc Gilbard added: “Real estate is feeling the full impact of cyclical and structural change colliding, and while this creates opportunity, there is naturally a deep sense of uncertainty.
“Despite recent challenges, the UK remains one of the best places in the world to invest in real estate thanks to deep and liquid markets, which has allowed for a rapid repricing of assets.
“Beyond the diversification benefits and inflation-hedging qualities, investors in real estate know their capital has a positive real-world impact through funding the delivery of vital new housing and physical infrastructure that enables crucial economic activity.”
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