PfP Capital appoints fund manager for £330m PRS platform
PfP Capital has appointed Jamie Younger as fund manager for its £330m private rented sector strategy.
Younger joins Picture Living from Patrizia, where he was head of transactions, UK and Ireland. Prior to that he was head of UK transactions at Rockspring Property Investment Managers. He also held the position of managing director at GE Capital.
Younger will replace Tim Saunders, who is retiring after seven years with PfP Capital.
PfP Capital has appointed Jamie Younger as fund manager for its £330m private rented sector strategy.
Younger joins Picture Living from Patrizia, where he was head of transactions, UK and Ireland. Prior to that he was head of UK transactions at Rockspring Property Investment Managers. He also held the position of managing director at GE Capital.
Younger will replace Tim Saunders, who is retiring after seven years with PfP Capital.
Younger will work alongside the senior management team to develop and implement new strategies as PfP Capital looks to expand its product range to meet growing appetite from domestic and international capital sources for exposure to the living sector through funds that offer social value alongside competitive, stable, diversified long-term returns.
Catherine Webster, chief executive of PfP Capital, said: “Jamie has a proven track record across the capital stack in both the living and commercial investment sectors. His experience will be key as we look to quickly scale the Picture Living strategy, while targeting the launch of more innovative fund strategies over the medium term to meet growing investor demand in the living sector.
Younger said: “PfP Capital’s unique model – as fund manager balancing profit and purpose – is very attractive, while it also provides a blueprint for future housing delivery in the UK. It’s focused living strategy and access to pipeline through its Places for People relationship can be married up with institutional capital seeking an experienced partner to offer attractive risk-adjusted returns.”
Picture Living was launched in May 2018 as a joint venture between Universities Superannuation Scheme and PfP Capital’s parent company, Places for People.
It has a portfolio of more than 1,500 single-family homes and apartments, and is actively acquiring schemes with between 30 and 80 flats across the UK.
Touchstone, the specialist property management business of Places for People, manages the portfolio on a day-to-day basis.
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