LendInvest, a UK asset manager for property finance, is launching a new open ended fund with more than £200 mln (€231 mln) in capital already committed from investors.
The fund strategy follows the firm's previous flagship fund focussed of short-term transactional loans providing the financing for LendInvest bridging and development loans and supporting property professionals around the UK.
LendInvest has confirmed it already has more than £200 mln for the new fund from existing investors, as it gears up to go to market. The overall target is £300 mln.
Omega Poole, head of funds management at LendInvest, said: 'Over the last couple of years we have pro-actively solicited feedback from our existing investors and the wider market, and looked to design a fund which is attractive and competitive in today’s market.'
'To have more than £200 mln of capital already committed is fantastic, and the successful launch of this new flagship fund demonstrates that our investment strategy continues to appeal to a wide range of investors seeking to finance UK housing on a senior secured whole-loan basis.'