Pure Global, Twin Summits JV launches U.S. single-family rentals fund
London-based real estate investment management firm Pure Global Capital has launched its latest business platform, U.S. Single-Family Rental Homes, in a joint venture agreement with Twin Summits Capital.
The fund is PGC’s first move into the U.S. market, following the firm’s launch in late 2016. Twin Summits Capital, an independent investment manager based in the United Kingdom and United States, will manage the fund.
The new fund aims to raise $200 million in equity commitments in the first round from approved investors. The fund will invest across the United States and also provide bespoke separately managed account services.
This move by PGC and Twin Summits Capital comes in the context of declining home ownership levels in the United States during the last 20 years, coupled with increasing demand for suitable rental accommodation significantly outstripping supply by more than 10 percent. This has led to substantial upward pressure in r