Homes England, the government’s housing accelerator, has teamed up with Newstead Capital to launch a new development finance fund to support and help SME housebuilders. A string of investors including Homes England, Greater Manchester Pension Fund, and listed wealth manager Mattioli Woods have committed £80m to this development finance fund. Claiming it is a first-of-its-kind fund, Simon Champ, CEO of Newstead Capital, said it will offer a conduit to long-term institutional investors to access a market that was unavailable to them until now. The fund aims to deliver £1 billion of lending over its lifetime by attracting new institutional capital sources.
