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Sign in Sign up for a FREE subscriptionGCM Grosvenor funds €164m equity recapitalization of Placefirst
Matter Real Estate announced that GCM Grosvenor (GCMG), a global alternative asset management solutions provider, has become a strategic investor in a £140 million (€164 million/$167 million) equity recapitalization of Placefirst, a Matter portfolio company.
Placefirst is an award-winning developer, owner and operator of high-quality single-family rental (SFR) housing in the United Kingdom. The firm recently reported record portfolio growth, reaching 1,500 homes in April 2022, with a further secured pipeline of more than 1,000 units.
As part of the equity recapitalization, GCM Grosvenor invested on behalf of several of its investment programs. Investors in these programs include a number of public and private pension plans from the United States, Europe and Asia. New committed capital will be used to support Placefirst’s plans to build a 6,500 unit, £1.3 billion (€1.52 billion/$1.55 billion) SFR portfolio across the United Kingdom. GCM Grosvenor’s investment
