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New cash for 'socially conscious' rental housing strategy

1st March 2024

Thriving Investments has raised £100 million ($126 million) in new equity for its flagship private rented sector (PRS) strategy.

The “socially conscious” fund manager, which focuses on the UK living sector, has secured a further £100 million of equity from Universities Superannuation Scheme for its Picture Living platform.

This latest commitment will support Thriving Investments’ ambition to grow the Picture Living portfolio to more than 2,000 homes by the end of 2024. Picture Living has a mandate to deliver high-quality new or modern, predominantly single family homes for rent across the UK. All homes will have an EPC rating of ‘B’ or better.

Jamie Younger, fund manager for Picture Living, said: “Solving the UK’s rental crisis has become an issue of national importance, and one where it has become increasingly apparent that the solution to delivering homes at the scale and pace required lies with institutional capital and fund managers.”

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