The Gloucestershire (England) Pension Fund (GPF) has invested £30 million ($36.9 million) in the National Homeless Property Fund 2 (NHPF2), a vehicle of Resonance. Resonance is a U.K. investor focused on social impact funds and causes.
NHPF2 launched in 2020 and has since received £129 million ($159 million) in funding to buy homes, renovate them and rent them to unhoused people and those living in temporary accommodations.
“We are seeing increasing levels of interest from investors looking to make a difference in the communities where they and their members are based,” said Chris Cullen, head of Homeless Property Funds at Resonance, in a statement.
As part of the Local Government Pension Scheme, GPF serves government employees in Gloucestershire County, England. As of March 31, 2023, it had £354 billion ($436.3 billion) in total assets under management.