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Sign in Sign up for a FREE subscriptionHeimstaden Bostad raises capital from Greater Manchester Pension Fund
Heimstaden Bostad has raised SEK 3,337 billion ($322 million) in new equity from the Greater Manchester Pension Fund (GMPF), one of the largest local government pension schemes in the United Kingdom, and existing shareholders.
The proceeds will be used to strengthen the company’s balance sheet and partially fund a bond buy-back.
“We are excited to partner with Heimstaden Bostad, a best-in-class residential real estate owner-operator with a strong track record,” said Gerald Cooney, councilor and chairman of Greater Manchester Pension Fund. “Their philosophy of creating long-term value by focusing on evergreen and sustainable investments aligns perfectly with our own strategic objectives and pledge to reach net-zero carbon emissions across our investments by 2050. With a clearly defined focus on ESG improvement, tenant satisfaction, and affordability, Heimstaden Bostad is creating a positive societal impact given the lack of affordable housing in the U.K. and acr
