Swiss Life enters London co-living market with jv

Swiss Life Asset Managers has formed a strategic joint venture by acquiring a minority stake in True North Management. The jv demonstrates the asset manager’s commitment to diversifying its portfolio and exploring opportunities in the UK’s living sector. Swiss Life said the jv plans to create an industry-leading living platform. True North was established in 2018 by chief executive Jill Ju and Ingo Holz, a Germany-based, international real estate expert and founder of BEOS AG, which Swiss Life acquired in 2018. Per Erikson, head of real estate at Swiss Life, said: “The co-living sector presents an exciting opportunity within the real estate market, particularly in the UK. We remain focused on exploring new opportunities as we expand our portfolio. True North’s expertise in co-living development, coupled with Swiss Life Asset Managers’ residential know-how and investment capacity, offers the opportunity to become a leader in the evolving co-living landscape.” Ju said: “Both organisations share a purpose of enabling people and thinking long-term, which made Swiss Life Asset Managers an ideal partner for us. “We both see the value of a partnership between a team of entrepreneurial experts and a supportive long-term investor. We are working on an expansive pipeline of new sites to grow our UK portfolio. There is a lack of established investment vehicles in this asset class, and we aim to create a fund vehicle that would enable mission-aligned capital partners to join us on this journey.”