London CIV UK Housing Fund secures $308m commitment

London CIV has captured a £250 million ($308 million) commitment from the London Borough of Lambeth pension fund for its open-end London CIV U.K. Housing Fund.

The fund will focus on increasing the supply of good quality, affordable housing in the United Kingdom, which encompasses the general needs social and affordable housing, specialist housing and transitional supported housing categories.

A first closing of the fund is scheduled for the end of March 2023. London CIV also has selected its first investment into an underlying housing fund which is expected to close in the second quarter 2023.

“Lambeth Pension Fund has for many years sought to invest in a fund that would increase the amount of social and affordable housing in the U.K.,” said Councillor Adrian Garden, chair of the pension committee at the London Borough of Lambeth. “With the setting up of the LCIV U.K. Housing Fund, we are delighted that we are able to achieve that aim whilst meeting our