The London Pension Fund Authority has committed a further £50 million to the London Fund, bringing total investment capital to £150 million.
The commitment came as the fund made its debut investment in Delancey and Oxford Residential’s DOOR SLP build-to-rent housing platform to support the development of new quality housing stock for London.
DOOR will facilitate The London Fund’s investment in housing developments in areas such as East Village, Stratford and Elephant and Castle.
This includes almost 3,000 homes under management, 1,870 homes under construction, a further 3,500 in the secured pipeline, with an overall target of 15,000 homes within the next five years. Get Living’s institutional ownership, provision of long-term tenancies and resident-only break clauses provide residents with security of tenure.
The London Fund’s portfolio focuses on investments in the City of London Corporation, the 32 London boroughs and their immediate surrounds, in assets such as residential property – specifically build-to-rent – and affordable housing, community regeneration projects and infrastructure, including digital infrastructure and clean energy.
Robert Branagh, chief executive at The London Pensions Fund Authority, said: “We firmly believe that The London Fund provides a great way for us to deliver for our fund members and provide a direct benefit to communities in London.”