Henley brings second U.K. social-housing fund to market

Henley Investment Management has launched its second fund focused on U.K. social housing, Henley Secure Income Property Unit Trust II (SIPUT II).

The open-ended fund will seek to raise £1 billion ($1.2 billion) during the next three years and aims to provide more than 1,000 homes for those in need across all regions in the United Kingdom. Two local government pension schemes are seed investors in the first close of SIPUT II, with a target first-year funding commitment of £300 million ($364 million).

Henley said there is significant unmet demand in the U.K. social-housing market for regional residential accommodation for individuals with specialist supported or emergency housing needs, with private-sector capital providing the only realistic option to satisfy demand from local government and public-sector charities for new accommodation. SIPUT II provides funding for new accommodation and acquires completed and stabilized assets, including those used for specialist su