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In brief: Bridges Fund Management closes fifth property fund at £350m

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Published on: June 14 2022

Impact investor Bridges exceeds original fundraising target for its latest real estate fund. Plus, Aqua for All and Oikocredit’s partnership, and Fi Gathering Amsterdam’s focus on impact investing in Latin America

Bridges’ property funds focus on sustainable and impact-driven real estate investments | Photo: Latitude Blue scheme project in Leeds, Bridges Fund Management

Bridges Fund Management (Bridges) has announced the final close of its fifth sustainable and impact-driven real estate fund at £350m (€408m), £50m above its original target.

The Bridges Property Alternatives Fund V, is 60% largest than its predecessor and it is classified as an Article 9 fund, or ‘dark green’, under the EU Sustainable Finance Disclosure Regulation (SDFR).

Bridges’ property funds have invested and committed to more than 25 transactions over the last two years, in sectors including lower-cost housing, low-carbon logistics and healthcare accommodation, making it one of the most active property investors in the UK. 

The new fund is already over 50% invested or committed, including an investment in Dublin, Bridges’ first real estate deal outside the UK.  

Simon Ringer, Head of Bridges Property Funds, said: “By concentrating on our preferred alternative and needs-driven sectors such as low-carbon logistics, healthcare and lower-cost housing, we have been able to generate consistent financial returns – typically well ahead of market benchmarks – whilst also achieving meaningful social and environmental impact.”

He added: “We have always believed that renewing our built environment is a critical part of the transition to a more sustainable and inclusive economy. The support for Fund V is testament to the importance real estate investors are now placing on sustainability and impact factors.” 

Aqua for All and Oikocredit support water and sanitation projects in Africa and Asia 

Non-profit water and sanitation finance organisation Aqua for All and social impact investor Oikocredit are launching a partnership to support water and sanitation financing and provision in Africa and Asia. 

Billions of people in low-income countries still lack adequate access to safely managed water and/or sanitation services, and large-scale private investment is urgently needed to bridge funding and service gaps to reach Sustainable Development Goal 6 – clean water and sanitation – by 2030. 

Under their new two-year agreement, Aqua for All and Oikocredit will combine market expertise, knowledge and network support to develop the water, sanitation and hygiene (WASH) portfolios of financial inclusion partners in east and west African countries and in Cambodia.  

Josien Sluijs, managing director, Aqua for All, said: “Accelerating sustainable access to safe water and proper sanitation requires close collaboration between the WASH sector and the impact investing sector. In Oikocredit we have found a committed partner to boost sector transformation and improve the lives of people in low-income communities. I hope that this partnership will inspire others to combine resources and expertise towards creating a sustainable and inclusive water and sanitation economy.” 

Mirjam ‘t Lam, managing director, Oikocredit, said: “Oikocredit is delighted to launch a new partnership with Aqua for All. Our two organisations’ approaches are truly complementary. We look forward to working together and with local partners in developing initiatives that improve access to safe water and sanitation for low-income people and their communities.” 

Fi Gathering Amsterdam to focus on impact investing in Latin America 

Organised by the Social Nest Foundation, the Fi Gathering Amsterdam takes place on 15 June and will focus on impact investment opportunities in Latin America and Spain. 

The event brings together selected impact funds and startups which are helping solve the most pressing social and environmental problems in Spain and Latin America and European investors and family offices, with the aim of connecting the latter with real investment opportunities and giving them first-hand knowledge as to the experience of private investors who are already deploying capital in the region 

Impact Investor will be attending the event as media partner. For more information about the programme, speakers and how to attend here.