The investment was today confirmed as part of a package of key measures announced by the UK's Ministry of Housing, Communities and Local Government (sponsor of Homes England) and HM Treasury, following a roundtable hosted by the Chief Secretary to the Treasury, as part of the UK Government's programme of activities to support its high-profile International Investment Summit.
The Summit has been focused on driving investment and growth across the UK, with up to 300 industry leaders attending alongside the UK Prime Minister Keir Starmer, Chancellor Rachel Reeves and Business and Trade Secretary Jonathan Reynolds.
SCREIF is a real estate focused strategy with the dual aims of delivering a positive social and environmental impact in addition to securing appropriate risk adjusted returns for investors. Last month, the strategy became only the second real estate fund in the UK to receive approval from the Financial Conduct Authority to use the 'Sustainability Impact' label under SDR.
With a residential-led approach, the fund is predominantly focused on addressing the UK's housing crisis, specifically, the shortage of social and affordable accommodation and the regeneration of town centres. The fund aims to ensure that its investments are made in accessible and resilient locations, with access to green space, public transport, schools and GPs.
The investment from Homes England will increase the ability of the fund to grow and invest more widely across the UK and secure further allocations from pension funds, insurers and foundations.
Chris Santer, Schroders Impact Fund Manager, Schroders Capital's Real Estate team, said:
This investment by Homes England is a clear indication of the absolutely vital role this fund is looking to play in the UK by delivering real and tangible change. Our homes, and the built environment around us, impact our daily lives. We believe this allocation from the public sector will be catalytic in unlocking further institutional investments, boosting broader confidence and interest in this key sector meaning the fund can enable more communities to thrive across the UK.
Peter Denton, Homes England Chief Executive, said:
This is a brilliant example of how public and private sector organisations can get behind a clear and common aim - namely supporting social justice and thriving communities. Our commitment aims to help spark deep and diverse market investment from a range of institutions. Fundamentally, this is about coming together to accelerate regeneration and the creation of affordable, high-quality homes within sustainable, thriving places that people, especially those in more deprived areas, want, need and deserve.
