Named the ‘Investment Club’, the fund will acquire existing or new developments of residential property across the UK.
The portfolio will be run by Aberdeen’s UK residential team lead by Ed Crockett.
According to Aberdeen AM’s Michael Dinsdale, the capital raising reflects the growing interest in the PRS sector.
“We have designed the Club after extensive discussions with investors to meet their needs for a clear strategy, a simple structure, and a cost effective approach,” he said.
“Aberdeen already manages over £350m of residential property assets in the UK,” added Crockett.
“We see this as an area of real interest for investors offering a stable, durable income stream with strong demographic pressure driving a fundamental change in the approach to the sector. We are delighted to be able to assist these clients in growing their exposure to this asset class.”
Aberdeen is one of the largest residential property fund managers in Europe, managing nearly £4.2bn of assets.
