Newcore Capital has acquired seven assets representing a gross purchase price of £25 million ($32 million) on behalf of its latest value-add social infrastructure fund, Newcore Special Situations V (NSS V).
NSS V held its final closing in May at £190 million ($243 million), representing the investment manager’s largest capital raise to date. The fund will invest in physical social infrastructure assets, including education, healthcare, storage, life sciences, waste management and transport across the United Kingdom, with a principal focus on Greater London and the Southeast of England. It is now expanding its portfolio to the funeral care subsector, a market segment Newcore says is driven by the United Kingdom’s aging population and a limited land supply for the specialist use.
Among the new assets acquired, which are spread across Greater London and neighboring commuter towns, four consist of children’s nurseries in Whitton and Clapham; a school that Newcore h