Man Group has received approval for a new for-profit social housing provider, Habitare Homes.
The global investment manager has launched the new business as a wholly owned subsidiary of the Man GPM RI Community Housing Fund, which is currently seeking to raise £400m.
The Regulator of Social Housing approved the registration on 1 April 2021.
Habitare Homes will now be able to bid for grant funding from Homes England and operate affordable housing. The business will be led by Katrina Laud as chair.
It follows recent moves from M&G Real Estate and McCarthy Stone, which both aim to provide shared-ownership housing, and developer London Square, which has launched an affordable housing arm, Square Roots.
Shamez Alibhai, head of community housing and portfolio manager at Man GPM, said: “It’s vital for the private sector to demonstrate a commitment to social outcomes and have a thorough, documented and robust impact framework against which progress is independently assessed by third-party specialists.”
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