Octopus raises $487m for care-home strategy

Octopus Investments has raised more than £400 million ($487 million) of commitments for its care-home strategy to meet the needs of the aging population.

The capital came from pooled and individual local government pension schemes — including the Greater Manchester Pension Fund — and overseas investors from the Netherlands, Scandinavia and Japan.

The care-home strategy increases the supply of U.K. quality-care homes to release pressure on healthcare providers and improve quality of life for older demographics.

As of March 31, Octopus had raised £2 billion ($2.4 billion) during the past year, reflecting growing investor demand for investment opportunities in private markets and bringing the total institutional funds under management to £4.6 billion ($5.6 billion).