Alternative Investments/Real Estate/ESG: Bridges Closes Fifth Fund At £350M For Sustainable Real Estate

https://dailyalts.com/wp-content/uploads/2022/06/Bridges-Verda.png

The fund was closed at its hard cap of £350m – £50m above its original target and the largest fund Bridges has raised to date.

In a rousing testament to the demand for sustainable real estate, Bridges Fund Management closed its fifth real estate fund, the Bridges Property Alternatives Fund V at its hard cap of £350 million. Fund V is about 60% larger than its predecessor fund, and is notable for investment by a host of new LPs drawn to the fund’s dual objectives of both financial and sustainability performance. (Bridges)

According to firm, Fund V was one of only a few “dark green” real estate funds, which meet Article 9 SFDR requirements by holding assets that are sustainable from the point of acquisition.

Bridges has delivered an average realised gross returns in excess of 25% IRR over the past 12 years, and additional benefits for people and the environment.

The fund is already more than half invested or committed, and 20% of its current investments are either forward-funded or have been pre-sold.

Bridges funds, together with the new fund, are on track to deliver on the development of low carbon industrial space (5.5m sq ft), about 3,000 affordable and lower cost homes, and about 1,300 assisted living and care home beds. All told, the firm’s investments will save 100,000 tonnes of carbon emission savings.

“By concentrating on our preferred alternative and needs-driven sectors such as low-carbon logistics, healthcare and lower-cost housing, we have been able to generate consistent financial returns – typically well ahead of market benchmarks – whilst also achieving meaningful social and environmental impact,” said Simon Ringer, Head of Bridges Property Funds.

Related Story: BNP Paribas Launches ETFs Targeting Hydrogen And Sustainable Real Estate

Image: Verda Park, a new 155,000 sq. ft. industrial/logistics development in Wallingford, South Oxfordshire, in partnership with Equation Properties (Bridges Fund Management)

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/03/micheile-henderson-ZVprbBmT8QA-unsplash.jpg
Venture Capital: JMI Closes Oversubscribed Fund XI At $2.4B
March 21, 2023     Latest News, News, Venture Capital

JMI Equity has closed JMI Equity Fund XI and JMI XI Executive Fund with total commitments of $2.4 billion. The oversubscribed fund received strong support from new and existing investors,…

https://dailyalts.com/wp-content/uploads/2023/03/demonstration-g7d8942b57_640.jpg
Alternative Investments/ESG: Fidelity Debuts Climate-Focused, Global Bond ETF In Europe

Fidelity International has launched a new fixed income ETF in Europe, targeting climate-conscious investors. The Fidelity Global Government Bond Climate Aware UCITS ETF is designed to provide exposure to a…

https://dailyalts.com/wp-content/uploads/2023/03/momo-app.jpg
FinTech: Users Can Now Receive Western Union Remittances Into Vietnam’s Highly Popular MoMo App
March 21, 2023     FinTech, Latest News, News

Western Union and MoMo have announced a collaboration enabling MoMo’s 31 million customers to receive Western Union money transfers through the MoMo app. This is the first time Western Union’s…

https://dailyalts.com/wp-content/uploads/2023/03/hands-g148b9b24c_640.jpg
Artificial Intelligence: Accenture Snaps Up India-Headquartered Industrial AI Firm Flutura

Accenture (NYSE: ACN), a global professional services company, has announced its acquisition of Flutura, an industrial artificial intelligence (AI) company based in Bangalore, India. Flutura specializes in industrial data science…