Savills raises €143m for first close of U.K. Simply Affordable Homes Fund

Savills Investment Management has held a first close of the Savills IM Simply Affordable Homes Limited Partnership, with five founding investors: Samsung Life Insurance, London CIV, Big Society Capital, Schroder BSC Social Impact Trust plc and Savills Plc.

The fund will invest in and manage a diversified portfolio of affordable housing, comprising both affordable and social-rent homes as well as shared-ownership homes, in an open-end core product designed for institutional investors seeking a low-risk, inflation-linked income stream while also delivering social impact.

Simply Affordable Homes RP Limited, the fund’s for-profit registered provider, will enable it to purchase existing high-quality income-producing stock through establishing strategic partnerships with housing associations and other registered providers, freeing up capital for them to develop more homes.

The fund will also facilitate the delivery of new homes and through strategic partnerships wit