Alternative real estate investment manager Newcore Capital Management has completed a final close of its fourth strategic situations value-add fund. The investment vehicle raised £150 million ($184 million) in capital.
Equity commitments of £84 million ($103 million) came from institutional investors, as well as the firm’s existing family office client base. According to Hugo Llewelyn, managing director of Newcore, the fund is building on that momentum with an active investment pipeline.
The firm targets social infrastructure, storage and accommodation strategies across the United Kingdom. The fund already has invested £30 million ($36 million) in these sectors and will continue the firm’s value-add strategy.
The capital raise follows the completion of Newcore’s £40 million ($49 million) investment program for the fund’s predecessor, Newcore Strategic Situations III.
