Aberdeen raising equity for PRS
Fund manager to invest in rented sector
The ‘Investment Club’ will acquire existing or new developments of residential blocks across the UK.
It will be seen as a welcome boost by institutional funds into the rented sector.
Michael Dinsdale (pictured) from Aberdeen Asset Management, who led the capital raising, said: “This Club 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.”
The portfolio will be run by Ed Crockett who leads Aberdeen’s UK residential team.
He said: “Aberdeen already manages over £350 million of residential property assets in the UK.
“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.”
Aberdeen is one of the largest residential property fund managers in Europe, managing nearly £4.2 billion of assets.