Edmond de Rothschild REIM captures $37m for U.K. affordable housing fund

Edmond de Rothschild Real Estate Investment Management has added a £30 million ($37 million) commitment from Strathclyde Pension Fund for its Article 9 “dark green” U.K. affordable housing fund, Funding Affordable Homes.

There are an estimated 3 million to 4 million people currently on housing waiting lists in the United Kingdom, with 278,000 households being statutorily homeless.

Valued at £133.9 million ($165 million) as of Sept. 30, 2022, Funding Affordable Homes’ portfolio consists of 768 existing homes across 10 projects, providing affordable homes to up to 1,300 people across the United Kingdom. Edmond de Rothschild REIM has plans to grow the fund to more than £500 million ($617 million).

“We are pleased to welcome Strathclyde Pension Fund into the Funding Affordable Homes Fund,” said Tim Holden, head of residential U.K. at Edmond de Rothschild REIM. “The commitment is a significant step in the growth of the fund and affirms our conviction t