Hearthstone Investment Management acquires more than 100 new homes valued at £31m

Hearthstone Investment Management, an institutional investment manager specializing in residential property in the United Kingdom, has announced the acquisition of more than 100 new homes in three separate deals with a combined value of £31 million ($39 million), on behalf of its Hearthstone Residential Fund 1 (HRF1).

The 10-year closed-ended private equity fund announced its final closing earlier this year, with commitments of over £200 million ($254 million) from seven United Kingdom local authority pension funds — Merseyside Pension Fund, Tyne and Wear Pension Fund, Derbyshire Pension Fund, Nottinghamshire Pension Fund, Staffordshire Pension Fund, Teesside Pension Fund, and West Midlands Pension Fund.

The latest acquisitions are in line with the fund’s investment strategy to acquire and actively manage good-quality residential assets suitable for professionals, families and key workers in areas of strong rental demand across the United Kingdom regions. The pro