Kinetic Capital has teamed up with StepStone Real Estate to provide at least £200m in loans to UK student accommodation developers.
The investment programme marks Kinetic’s first capital raise since launching its fund last year.
Kinetic boss Steve Grant said: “We’re really pleased to close this investment programme with such a high quality partner and will look to deploy this capital efficiently into our strong pipeline of investment opportunities with leading sponsors.”
Kinetic is now looking to expand its geographical focus to mainland Europe, and hopes to close its first investments inthe EU over the coming months.
SRE’s head of EMEA, Josh Cleveland said: “We’re delighted to be partnering with Kinetic and benefitting from their expertise as a leading PBSA debt provider in this space. Establishing this investment programme provides us with exposure to this attractive asset class that has performed strongly through the cycle. Kinetic’s sector specialization and track record were also a compelling draw for us, coupled with its innovative focus on ESG incentives for borrowers.”
