Hearthstone Residential Fund 1
Hearthstone Residential Fund 1 was our first fund, designed for institutional investors seeking a strategic allocation to high quality private rented residential assets in the UK. It launched in December 2017, and has since invested in selected areas where strong rental demand is expected to provide the basis for a reliable, stable income stream offering good inflation protection. Our strategy also seeks to identify under-supplied markets where healthy consumer demand is expected to support capital growth over the long term.
The Fund secured equity commitments of just over £200 million, with the backing of seven UK local government pension schemes.
The Fund’s objective is to provide a strong, stable income return, supplemented by modest capital growth over the life of the Fund. Income is distributed to investors, after deduction of operating costs and expenses.
The Fund achieved its final close in February 2019, so is no longer open to new investors.