Thriving Investments, the socially conscious fund manager focused on the U.K. living sector, has secured a further £100 million (€117 million/$127 million) of equity from Universities Superannuation Scheme (USS), one of the largest pension schemes in the United Kingdom, for its flagship private rented sector (PRS) strategy.
The latest commitment will support Thriving Investments’ ambition to grow the Picture Living portfolio to more than 2,000 homes by the end of 2024, delivering positive, place-based impact while reflecting the continued appetite from U.K. pension funds for exposure to income-focused real estate that delivers long-term, stable returns.
Since launching in 2018, Picture Living has amassed a portfolio of 1,800 single-family and multifamily homes in the United Kingdom, of which 180 are currently under development. The additional USS commitment comes as a Savills report published last month revealed that nearly £250 billion (€292 billion/$317 billi
