DTZi raises £170m for London co-living

DTZi has raised £170m to invest in The Collective’s co-living schemes in London, following commitments from major pension funds Merseyside Pension Fund has backed the COLIV fund, joining other investors, including Strathclyde Pension Fund, which seeded the vehicle in October 2019. The fund seeks to deliver core-plus returns of 8-10% per annum over a four-year investment period, with DTZi as investment manager and the Collective acting as asset and property manager. COLIV was dubbed the world’s first co-living fund when it launched last year, seeking to raise £650m to forward-fund development and acquire built assets. It aims to deploy £1bn across up to 10 projects in Greater London by 2030. Kate Fearnley, head of investor relations for COLIV at DTZ Investors, said: “A further like-minded investor onboard will galvanise the fund’s efforts to provide a housing solution that responds to renters’ demands for convenient accommodation and society’s need for buildings and places that bring communities together.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette