Newcore Capital has achieved the first close for its £375m fund focused on education, childcare, healthcare, transport and waste management real estate.
The initial fundraising, totalling £100m, has secured backing from public sector pension funds and a private client of Capricorn Private Investments.
The fund targets a return of between 9% and 11% per annum, with an annual dividend of between 4% and 5%. The fund will be semi-open-ended with structured liquidity flows for primary redemption and new capital raising.
Hugo Llewelyn, chief executive at Newcore Capital, said: “This milestone has been achieved against the backdrop of a particularly difficult capital-raising market and demonstrates that a clear three-dimensional focus on sustainability – financial, environmental, and social – can deliver positive results for fund managers, by securing commitments from investors with similar aspirations for their capital.”
Image from Newcore Capital
Send feedback to Evelina Grecenko
