Inside Housing – News – Octopus investment fund secures extra £150m for affordable homes push

July 19, 2024

1 minute read

An Octopus Group-owned investment vehicle has secured a further £150m from pension funds as it increases its efforts to deliver more affordable housing.

Jack Burnham is head of affordable housing at Octopus

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An Octopus Group-owned investment vehicle has secured a further £150m from pension funds as it increases its efforts to deliver more affordable housing #UKhousing

Octopus Investments, part of the Octopus Group which also includes the high-profile energy firm, announced this week that it has raised the funds from four Local Government Pension Scheme (LGPS) investors.

Avon and Gloucestershire LGPS have both invested £50m, while Devon LGPS has contributed £40m. Clwyd LGPS has added £10m to Octopus’s fund.

In May this year, NewArch acquired 180 affordable homes from Kent-based Golding Homes for an undisclosed sum.

Jack Burnham, head of affordable housing at Octopus, said: “We know there are a number of locally interested investors who are looking for opportunities to deploy capital into funds that can provide specific social impact to their local areas.

“We think this is an approach that should be embraced, and are thrilled to be working with Avon, Gloucestershire, Devon and Clwyd pension funds to help support them either deliver affordable homes in their areas, or in other areas across the UK.”