Singapore-based investment manager AEPim is eyeing opportunities to get a foothold in the UK residential market as part of a wider investment strategy.
The firm, backed by Saudi Arabia-based investment group Al Rajhi, is closely monitoring the residential sector, including private rented housing.
It is keen to invest around $100m (£66.3m) initially as part of a residential and hospitality-focused programme.
AEPim is understood to be scouring London and the regions for potential investments and is headhunting fund managers to help lead its drive.
One source said: “The challenge in this market is that there is a lot of money but a lack of product. They might find it tough.”
The move could provide a further boost to the PRS, which has been bolstered this year by significant injections of capital from UK fund manager PRUPIM (p32) and the APG Strategic Real Estate Pool, Europe’s largest pension fund asset manager.
AEPim is also reviewing other opportunities to expand its presence in the commercial sector.
Last month, its Securus Data Property Fund bought a 50% stake in Dublin data centre Citadel 100. The Shariah-compliant data centre fund, jointly managed with Keppel Data Centre Investment Management, has more than $100m of equity to spend.
AEPim has transacted more than $3bn over the past five years and is led by chief executive and managing partner Yusof Wahid, formerly of DTZ.
The investment manager invests in office, retail, business parks and industrial assets as well as residential, including serviced apartments.
annabel.dixon@estatesgazette.com
