Newcore Capital Management has launched a £100m fund targeting UK real estate assets linked to social infrastructure, storage and accommodation.
The fund has already secured equity commitments of £55m from two UK local authority pension funds, including Merseyside Pension Fund, as well as its existing family office client base.
A final close is expected to take place in the first quarter of 2019.
The fund will aim to deliver an annual 14-16% net internal rate of return to investors.
Newcore is being advised by CBRE Capital Advisors in the fundraising.
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