Aberdeen raises £115m for residential property fund

Added 1st August 2016

Aberdeen Asset Management has raised £115 million of equity to invest in the UK private rented sector (PRS).

Aberdeen raises £115m for residential property fund

The ‘Investment Club’ is comprised of a number of UK pension funds and will acquire existing or new developments of residential blocks across the UK.

The portfolio will be run by Aberdeen’s UK residential team lead by Ed Crockett.

According to Aberdeen AM’s Michael Dinsdale, the capital raising reflects the growing interest in the PRS sector.

“We have designed the Club after extensive discussions with investors to meet their needs for a clear strategy, a simple structure, and a cost effective approach,” he said.  

“Aberdeen already manages over £350 million of residential property assets in the UK,” added Crockett. “We see this as an area of real interest for investors offering a stable, durable income stream with strong demographic pressure driving a fundamental change in the approach to the sector. We are delighted to be able to assist these clients in growing their exposure to this asset class.”

Aberdeen is one of the largest residential property fund managers in Europe, managing nearly £4.2 billion of assets. 

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Alex Sebastian

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Alex joined Portfolio Adviser in April 2014 and has been a financial journalist since 2008. He has previously held editorial positions at the Financial Times Group and Euromoney Institutional Investor. Alex is NCTJ qualified and has a degree in economics from the University of Sussex.



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