Newcore Capital Management announced an interim close of Newcore Strategic Situations IV with £55 million in equity commitments. The value-add fund is targeting £100 million and will invest in UK real estate assets linked to social infrastructure, storage and accommodation.
Early institutional commitments have come from two UK local authority pension funds, including Merseyside Pension Fund. Family office investors are also being sought after. A final close is anticipated to happen in the first quarter of 2019.
The fund’s predecessor raised £40 million. CBRE Capital Advisors advised Newcore during the process.
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