London Borough of Hammersmith and Fulham Pension invest in Man Group housing fund
The London Borough of Hammersmith and Fulham Pension Fund (LBHF) has approved a £30 million ($42 million) investment in Man Global Private Markets (Man GPM) Responsible Investment Community Housing Fund, managed by Man Group.
This represents 2.5 percent of the pension fund’s total assets.
The housing fund launched in April with a £400 million ($565 million) fundraising target.
The fund will focus on affordable housing, capitalizing on growing institutional-fund appetite for opportunities with both financial returns and tangible positive social and environmental outcome, according to Professional Pensions.
The fund is focused on delivering housing stock for those earning below median income across multiple rental and ownership tenures.