PfP Capital appoints new fund manager

PfP Capital, the social value and ESG-focused real estate fund manager, has recently appointed Jamie Younger as fund manager, with responsibility for its regional Private Rented Sector (“PRS”) strategy, the £330m Picture Living platform. Younger will replace Tim Saunders, who is retiring after seven years with PfP Capital. He will be instrumental in supporting PfP Capital’s ambitious growth plans, which include scaling the Picture Living strategy. Younger will work alongside the senior management team to develop and implement new strategies, as PfP Capital looks to expand its product range to meet growing appetite from both domestic and international capital sources for exposure to the living sector, through funds that offer a combination of social value alongside competitive, stable, diversified long term returns. He has over 25 years of experience in the fund management, real estate equity and credit investment space. He joins PfP Capital from PATRIZIA where as head of transactions, UK and Ireland, he led a seven strong team. He also originated and executed over £1bn of investments for multiple sources of internal and external capital across the risk spectrum over the last five years. Younger said: “PfP Capital’s unique model – as fund manager balancing profit and purpose – is very attractive, whilst it also provides a blueprint for future housing delivery in the UK. Its focused living strategy and access to pipeline through its Places for People relationship can be married up with institutional capital seeking an experienced partner to offer attractive risk adjusted returns. “This is a rare opportunity to work with Cath and the highly experienced team to help PfP Capital achieve its ambitions in the critically undersupplied UK residential sector, whilst delivering positive social impact across the regions.” Picture Living was launched in May 2018 as a joint venture between Universities Superannuation Scheme, one of the largest pension schemes in the UK by AUM, and PfP Capital’s parent company Places for People. To date, Picture Living has amassed a portfolio of over 1,500 single family homes and apartments, and is actively acquiring schemes of 30-to-80 units across the UK. Touchstone, the specialist property management business of Places for People, manages the portfolio on a day-to-day basis. Catherine Webster, CEO of PfP Capital, said: “Jamie has a proven track record across the capital stack in both the living and commercial investment sectors. His experience will be key as we look to quickly scale the Picture Living strategy, whilst targeting the launch of more innovative fund strategies over the medium term to meet growing investor demand in the living sector.”

PfP Capital appoints new fund manager

Jamie Younger joins PfP from PATRIZIA where he generated over £1bn of investments as head of transactions

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