Newcore Capital targets €439m equity raise for core-plus fund

Newcore Capital, a U.K.-focused real estate investment manager specializing in social infrastructure, has plans to raise £375 million (€439 million/$456 million) for a new core-plus strategy.

The Newcore Sustainable Income Trust is due to launch by end of fourth quarter this year. The fund will focus on acquiring fully functional real estate assets at sustainable prices to create a diversified, income-producing portfolio using only moderate leverage.

In line with Newcore’s previous strategies, acquisitions will be U.K. focused, principally London and the South East, as well as regional centers with strong local economies. Newcore has already identified a circa £300 million (€439 million/$365 million) pipeline of potential assets.

Sectors of focus include education, waste management, medical research and pathology, storage, clinical healthcare and transport. Newcore, which currently manages approximate