International legal practice Osborne Clarke has advised Bridges Fund Management, the specialist sustainable and impact investor, on its fifth property alternatives fund ("Fund V").
Fund V was closed at its hard cap of £350m, making it the largest fund Bridges Fund Management has raised to date. Fund V builds on Bridges Fund Management's 12-year track record of investing in growth locations and needs-driven sectors – particularly healthcare, low carbon logistics, and lower-cost & affordable housing – where a focus on sustainable development can achieve both attractive financial returns and positive social and environmental impacts.
The fund closed £50m above its original target of £300m, thanks to strong demand from a range of pension funds, family offices, and private investors in the U.K., Europe, and North America. This included long-standing investors such as Clwyd Pension Fund, East Riding Pension Fund, the Environment Agency Pension Fund, and new investors such as Church Commissioners for England, Investcorp-Tages, The J.W. McConnell Family Foundation and Mercer Private Investment Partners VI. A significant portion of these new investors chose to partner with Bridges specifically because of Bridges’ dual focus on financial and impact performance.
Notably, Fund V is classified as an Article 9 Fund under the Sustainable Finance Disclosure Regulation, which is reserved for funds that have sustainable investment at their core.
Osborne Clarke is a recognised industry leader in real estate providing a comprehensive lifecycle service and advising major real estate industry organisations, ranging from developers and investors to property funds and corporate occupiers.