Aviva Investors has revealed its Real Estate Long Income (RELI) team secured £1 billion (€1.17 billion/$1.37 billion) of new capital commitments over the course of 2020. The figure, a record number, was driven by increased investor demand for an asset class which has performed well despite a challenging environment following the global pandemic.
The £1 billion of new capital commitments came from a mixture of local authority and institutional mandates, with investors increasingly seeking resilient income streams that can also offer cash flow–matching characteristics. Of the £1 billion, £239 million (€280 million/$328 million) originated from public-sector capital, including London CIV, with the balance from new and existing U.K. and European institutional clients.
The growth in demand for long-income strategies saw assets under management for Aviva Investors’ long-income business pass £5 billion (€5.8 billion/$6.9 billion), following acquisitions totalin
