Hearthstone Investments, a specialist fund manager in U.K. private rented housing, has announced the launch of its new Hearthstone Residential Fund.
The fund provides institutional investors with a further opportunity to invest in the U.K. private rented housing sector.
The fund has a target initial close of £70 million (€81 million/$88 million). It will follow the same investment strategy as Hearthstone’s Residential Fund 1, which closed in 2019 with secured equity commitments of more than £200 million (€232 million/$252 million), and Hearthstone Residential Fund 2, which closed in 2021, raising £152 million (€176 million/$192 million).
An important difference is that the new fund has a semi-open-ended “evergreen” structure, with opportunities for investors to top-up their holdings or to reduce exposure if needs change.
As with the two previous funds, it will provide institutional investors with an opportunity to strengthen their environme
