Investor behind ReSI Homes raises £125m to help deliver more than 1,000 homes

This funding total will deliver more than 1,000 affordable homes, building on the 1,400-plus homes already invested in by the fund, through 18 acquisitions across England.

GH ReSI LP said: “With all previous commitments already invested and a strong pipeline of opportunities, the new capital will be deployed at pace over the coming months.”

The limited partnership has previously received commitments from several other UK institutional investors, including Staffordshire and Wiltshire pension funds and Centrica Combined Common Investment Fund.

Ben Fry, managing director, housing at Gresham House, said that this “continued strong backing” from institutional investors is testament to “the growing recognition of the dual benefits that shared ownership investments can deliver”.

He said these include resilient inflation-linked income and lowering the lifetime cost of housing for young families and key workers.

“We have a wealth of opportunities in the pipeline, so we will be putting this new capital to use over the coming months to deliver more new developments both across the UK and specifically in Gloucestershire and Devon,” Mr Fry said.

Lynden Stowe, chair of the Gloucestershire Pension Fund, said that the investment will provide a “robust financial return alongside meaningful social benefits”.

He said: “Through this commitment to shared ownership we will contribute to the delivery of much-needed new housing for our residents in Gloucestershire.”

James Morrish, chair of the Devon Investment and Pension Fund Committee, said: “We are delighted to be making this significant contribution to GH ReSI LP, which will deliver stable long-term returns for our members while supporting the provision of vital new housing in Devon, where affordability is often an acute challenge.”

ReSI Homes was registered as a for-profit provider in 2020, with ambitions to raise up to £2bn of funding within three years. 

Alongside ReSI Homes, Gresham House owns a second for-profit, ReSI Housing, registered in 2017, which is backed by separate funding through its REIT, Residential Secure Income.