Matter Real Estate (“Matter”), a real estate investment firm focused on value-add and opportunistic real estate across evolving sectors in Europe, is proud to announce GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, as a strategic investor in a £140m equity recapitalisation of Placefirst – a Matter portfolio company.
Placefirst is an award-winning developer, owner, and operator of high-quality single-family rental (“SFR”) housing in the UK. The firm recently reported record portfolio growth, reaching 1,500 homes in April 2022, with a further secured pipeline of over 1,000 units.
As part of the equity recapitalisation, GCM Grosvenor invested on behalf of several of its investment programs. Investors in these programs include a number of public and private pension plans from the US, Europe, and Asia. New committed capital will be used to support Placefirst’s plans to build a 6,500 unit, £1.3bn single-family residential (SFR) portfolio across the UK. GCM Grosvenor’s investment is the cornerstone of a broader ongoing relationship with Matter to invest in other opportunities in line with Matter’s investment strategy.
Peter Braffman, Managing Director at GCM Grosvenor, added: “Partnering with Matter gives us the ability to deploy capital into what we believe to be attractive investment opportunities across Europe, in sectors supported by strong social and demographic fundamentals. We believe in Matter’s unique approach to investing in and growing real estate platforms and aggregating portfolios with strong cashflow.”
David Christie, CEO at Matter Real Estate, said: “GCM Grosvenor’s investment in Matter is a great endorsement of our investment strategy only one year after our launch. They recognise us as an emerging manager with an experienced team in place. We are looking forward to continuing our strategic relationship beyond their investment in Placefirst.”
Placefirst is an award-winning developer, owner, and operator of high-quality single-family rental (“SFR”) housing in the UK. The firm recently reported record portfolio growth, reaching 1,500 homes in April 2022, with a further secured pipeline of over 1,000 units.
As part of the equity recapitalisation, GCM Grosvenor invested on behalf of several of its investment programs. Investors in these programs include a number of public and private pension plans from the US, Europe, and Asia. New committed capital will be used to support Placefirst’s plans to build a 6,500 unit, £1.3bn single-family residential (SFR) portfolio across the UK. GCM Grosvenor’s investment is the cornerstone of a broader ongoing relationship with Matter to invest in other opportunities in line with Matter’s investment strategy.
Peter Braffman, Managing Director at GCM Grosvenor, added: “Partnering with Matter gives us the ability to deploy capital into what we believe to be attractive investment opportunities across Europe, in sectors supported by strong social and demographic fundamentals. We believe in Matter’s unique approach to investing in and growing real estate platforms and aggregating portfolios with strong cashflow.”
David Christie, CEO at Matter Real Estate, said: “GCM Grosvenor’s investment in Matter is a great endorsement of our investment strategy only one year after our launch. They recognise us as an emerging manager with an experienced team in place. We are looking forward to continuing our strategic relationship beyond their investment in Placefirst.”