UK focused property manager, Orchard Street Investment Management, has announced the first close of its first impact fund, the £400 million Orchard Street Social and Environmental Impact Partnership (SEIP). Brunel Pension Partnership has become a cornerstone investor with a £90 million commitment on behalf of eight of its 19 partner funds.
The capital also includes co-investment from Orchard Street’s partners and members of Orchard Street’s senior team, demonstrating the firm’s personal and professional alignment of interests in creating investment opportunities that make an environmental and social difference.
The fund, approved by The Townsend Group, will target value add real estate investment opportunities with the potential to generate a measurable social and environmental impact. It will focus on three specific impact areas, through decarbonising existing buildings via an accelerated programme of refurbishment; investing in local communities, using a place-based needs model to identify and respond to local social issues; and making buildings healthier for those that live and work in them through improving air quality, access to green space and wellness amenities.
Philip Gadsden, portfolio director of SEIP and managing partner at Orchard Street said: “Buildings that offer top quality space and strong ESG credentials will continue to command the best rents and prices.”