Places for People hits BTR bumps

Places for People’s asset management arm PfP Capital is exploring new strategies to attract finance for its £550m build-to-rent fund which launched last March.

Chief executive David Cowans said: “We have not raised the money yet because we are getting a lot of investor feedback, which means that our plans are continuing to evolve.”

Cowans said investors had told them they wanted to see specific schemes and added that PfP would seek to “value engineer” the seed portfolio to get properties built.

He said: “One possibility is for the fund to be seeded with existing properties;