Lambeth is the First Local Authority to Invest in London CIV UK Housing Fund
Posted on 02/05/2023
London LGPS CIV Limited (London CIV) received a £250 million commitment from the London Borough of Lambeth pension fund for its open-end London CIV U.K. Housing Fund (LCIV UK Housing Fund).
Cllr Adrian Garden, Chair of Pension Committee, London Borough of Lambeth said in a press release, “Lambeth Pension Fund has for many years sought to invest in a fund that would increase the amount of social and affordable housing in the UK. With the setting up of the LCIV UK Housing Fund we are delighted that we are able to achieve that aim whilst meeting our fund’s wider objectives of diversification, impact, and securing long-term income.”
The real estate fund will focus on increasing the supply of affordable housing in the United Kingdom. A first closing of the fund is scheduled for the end of March 2023.