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Hearthstone completes investments for HRF2 Fund
Transactions - MARCH 13, 2024

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Hearthstone completes investments for HRF2 Fund

by Released

Hearthstone Investments, an investment manager focused on affordable private rented housing in the United Kingdom, has completed the deployment of its £152 million ($195 million) Hearthstone Residential Fund 2 (HRF2) with a duo of transactions.

During the past month, a transaction for 45 new houses in Exmouth exchanged with a regional developer, in addition to an acquisition in Newcastle with a national housebuilder.

Both the capital raising and investment for the HRF2 occurred during a period of unprecedented challenges.

After the investment of the Hearthstone Residential Fund 1 (HRF1) from 2017 to 2019, capital raising for its successor fund HRF2 started in the autumn of 2019. Engagement with existing and prospective investors was severely disrupted from March 2020 onward with a series of lockdowns and investors stopping any face-to-face meetings well into 2022.

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