Gresham House and living sector-focused fund manager Thriving Investments have formed a partnership to manage Gresham House鈥檚 UK shared-ownership fund.
The new partnership will manage the Gresham House Residential Secure Income (ReSI LP) fund, with Ben Fry being appointed as affordable housing fund director at Thriving to advise the fund and support Thriving鈥檚 expansion.
Fry, previously a fund manager for ReSI LP and Residential Secure Income at Gresham House, will continue the role under a secondment agreement. He will also remain managing director of ReSI Homes and ReSI Housing.
Seven Gresham House employees will also join Thriving, with Cath Webster, John Tatham and Jamie Younger from Thriving joining ReSI LP鈥檚 investment advisory committee.
Gresham House will retain regulatory, financial, and client service functions for ReSI LP, while Thriving will manage the fund鈥檚 portfolio and source new investments.
ReSI LP has so far invested nearly 拢200m (鈧�238m) in 1,557 affordable homes across England, with over 1,100 currently operational. The UK local government pension schemes-backed fund aims to deploy an additional 拢120m and raise 拢1bn over the next five years.
Thriving鈥檚 CEO Webster said: 鈥淭he partnership will enable us to accelerate our ambitions in the shared ownership and affordable rental housing sectors, which are increasingly attractive to investors for their combination of stable income streams blended with capital growth, as part of our commitment to delivering high-quality, socially conscious communities.鈥�
Anthony Dalwood, CEO at Gresham House, said: 鈥淭his significant partnership will create a best-in-class shared ownership platform for investors and unlock opportunities for continued investment and growth.
鈥淐ombining our expertise will accelerate essential investment in affordable, high-quality, energy efficient housing to support the government鈥檚 commitment to tackling the UK鈥檚 housing crisis.鈥�
Fry said: 鈥淒elivering meaningful social impact investment opportunities for investors in the housing sector has underpinned much of my career and fully aligns with Thriving Investments鈥� strategy.鈥�
To read the latest 91传媒在线 magazine click here.
