PfP Capital to launch £150m residential fund

PfP Capital has plans to launch a new fund in partnership with the Scottish Government to invest in mid-market rent residential properties throughout Scotland.

The fund manager is targeting a total fund size of £150 million ($198 million), which will comprise a £47.5 million ($62.5 million) investment from the Scottish Government and an initial £10 million ($13 million) capital commitment from Castle Rock Edinvar. PfP Capital will look to raise approximately £87.5 million ($115 million) of additional capital from third parties over the coming months.

“This investment will support people on low and modest incomes to access high-quality rented accommodation at affordable rates and is one of the many ways in which we are delivering on our target of 50,000 affordable homes by 2021, backed by over £3 billion [$3.95 billion],” says Housing Minister Kevin Stewart. “Affordable housing is about more than just bricks and mortar. We want everyone to have a safe, warm h