HGP fund expansion
HGP is pleased to announce an expansion of our investment ambition through a broadening of parameters and additional funding. The new fund will run in parallel to the new SME fund launched at the end of 2021.
This is being done to allow HGP to play as significant a role as possible in supporting the UK’s diverse and evolving housing needs. It will take a multi tenure approach whilst significantly extending the scale of what and who they can support.
HGP can now invest up to £30m of equity into any one single project and can commit up to £60m into multi site strategic partnerships with mid market housebuilders and developers. The extended parameters also create the potential for HGP to support larger opportunities across all the living sectors including regeneration, later living projects and Build to Rent market.
Last weeks announcement of the £80m joint venture with Kier Group is a great example of extended focus with HGP supporting an established housebuilder deliver on its growth plans across multiple mixed-use regeneration schemes.
Vic Hepburn, Head of Fund and CEO of HGP commented:
‘We are focussed on having a significantly greater impact and increasing the number and type of homes HGP can support. In less certain times, this is also an opportunity to demonstrate our willingness to support the market through our partnership approach to investment. Supporting great teams has been key to the fund’s achievements to date and that will continue to be central to our strategy’