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Sign in Sign up for a FREE subscriptionCheyne Capital’s Impact Real Estate Strategy secures backing from two new LGPs
Greater Manchester Pension Fund and South Yorkshire Pensions Authority have joined the London Borough of Newham as the latest Local Government Pension Schemes (LGPS) committing to Cheyne Capital’s Impact Real Estate strategy.
Cheyne Impact Real Estate specializes in building high-quality housing for both general needs and specialist purposes. Within its projects, a significant proportion of the homes are made available to lower-income and key worker residents at significant discounts, and all homes have capped rental increases to offer longer-term certainty for residents. The affordable homes are provided on a voluntary basis, above and beyond any mandated affordable housing requirement and without the use of government grant funding. At the same time, the properties are always developed on a “tenure blind” basis so that all tenants enjoy identical levels of specification and service.
Cheyne’s cross-subsidy approach allows for the discounted market rent to be m