World's first coliving fund secures extra capital

George Sell George Sell Uploaded 07 July 2020

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UK: COLIV, an independent fund managed by DTZ Investors, now has £170 million of capital to invest, following a recently confirmed commitment from Merseyside Pension Fund, the Liverpool-based local authority pension fund.

COLIV is the world’s first fund established to provide institutions with the opportunity to invest in the London coliving sector. Merseyside Pension Fund joins other investors in the fund including the UK’s largest public pension fund, Strathclyde Pension Fund, which seeded the vehicle in October 2019.

COLIV was launched in October last year with DTZI as the investment adviser and The Collective acting as asset and property manager. It is seeking to provide investors with an attractive core-plus return of eight to 10 per cent per annum, and intends to build a portfolio of best-in-class large-scale coliving assets in London over a four-year investment period. 

Merseyside Pension Fund supports the fund’s mission to deliver tangible social opportunities to the people it houses and the neighbourhoods where it invests.

Kate Fearnley, head of investor relations for COLIV at DTZ Investors, said: “The team at Merseyside shares our view, and that of The Collective, that it is incumbent on real estate investors and managers to have a positive impact on society whilst striving to achieve a strong risk-adjusted return. A further like-minded investor onboard will galvanise the Fund’s efforts to provide a housing solution that responds to renters’ demands for convenient accommodation and society’s need for buildings and places that bring communities together. I am delighted to welcome Merseyside Pension Fund as an investor into COLIV and look forward to working with them as we go forward with the fund’s investment strategy.”

Click here to see the recording of a recent Urban Living webinar on investor sentiment, which featured Christian Birrell of DTZ investors talking about the COLIV fund and working with The Collective.

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