UK’s Greenridge announces first close of its $190mln GO fund

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Greenridge Investment Management Limited, a leading UK-based real estate investment firm, has announced the first close of its $190 million Greenridge Opportunities (GO) fund, with GCC investors accounting for 80% of the commitment.

The GO fund surpassed its first capital raise target by an impressive 46%.

The strong GCC engagement is further underscored by substantial investments specifically from key GCC nations, such as Saudi Arabia, and Kuwait. Given Greenridge’s two-decade-long association with the GCC and the wider Middle East, the region has always been a cornerstone in its fundraising initiatives.

Fertile ground

The prevailing UK economic climate has created a fertile ground for strategic investments in real estate. High inflation and rising cost of debt are forcing many property owners to divest. The market is witnessing several institutions facing redemption and liquidity issues, and lenders exerting pressure on borrowers. For GCC investors, this opens up a rare avenue as they have a significant opportunity to delve into income-producing premium UK commercial properties at competitive rates.

As UK institutional entities and other investors re-engage with the market in 3 to 4 years from now once economic recovery reaches a certain level, capital values will witness an upward trend, paving the way for promising exit opportunities.

The GO fund, designed for swift and assured property acquisitions, aligns impeccably with the market's current pulse. Having already successfully concluded its first property transaction, the fund is on a fast track, with subsequent negotiations actively in progress.

Strategic ability

Bik Bhuptani, Co-Founder of Greenridge, said: "Our successful first close of the GO fundraising is a testament to Greenridge's strategic ability and understanding of the global market. For our GCC partners and investors, this presents an invaluable chance to be part of a landscape ripe with opportunities. With our established presence in Dubai, we aim to bridge the best of both worlds, capitalising on the UK's property market while understanding the nuances and expectations of our GCC counterparts."

Paul Simmons, Co-Founder, of Greenridge, said: "Greenridge has always believed in the philosophy of 'having skin in the game.' By investing our capital alongside our partners, we ensure that our objectives are aligned. This alignment, combined with our expertise and the unique opportunities the UK market offers now, creates a compelling proposition for GCC investors. We invite you to join us in this journey, leveraging our combined strengths for mutual success."