Gresham House's British Strategic Investment Fund to close this year
Gresham House PLC has announced that it is targeting a final close for its British Strategic Investment Fund (BSIF) during 2019. As of last month, the fund has GBP165 million (US$217.8 million) of commitments from institutional investors including Local Government Pension Schemes (LGPS).
BSIF invests in the housing and infrastructure sectors, targeting an 8-10% annual net return including a minimum income yield of 5-6% per annum.
The fund has deployed over 45% of its committed capital to date, having made five investments during 2018. These include a Private Rented Sector (PRS) platform that invests in mostly new-build high-quality, but good ‘value-for-money’ rental accommodation located close to key areas of employment regionally; a 30 MW operational utility-scale energy storage system; the Wathegar 2 wind farm, located near Wick in North East Scotland; and a platform to develop indoor, controlled environment ‘vertical farm’ projects that grow herbs and leafy greens on multiple storeys.
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