LONDON, July 05, 2022 (GLOBE NEWSWIRE) — Matter Real Estate (“Matter”), a real estate investment firm focused on value-add and opportunistic real estate across evolving sectors in Europe, is proud to announce GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, as a strategic investor in a £140m equity recapitalisation of Placefirst – a Matter portfolio company.
Placefirst is an award-winning developer, owner, and operator of high-quality single-family rental (“SFR”) housing in the UK. The firm recently reported record portfolio growth, reaching 1,500 homes in April 2022, with a further secured pipeline of over 1,000 units.
As part of the equity recapitalisation, GCM Grosvenor invested on behalf of several of its investment programs. Investors in these programs include a number of public and private pension plans from the US, Europe, and Asia. New committed capital will be used to support Placefirst’s plans to build a 6,500 unit, £1.3bn single-family residential (SFR) portfolio across the UK. GCM Grosvenor’s investment is the cornerstone of a broader ongoing relationship with Matter to invest in other opportunities in line with Matter’s investment strategy.
Peter Braffman, Managing Director at GCM Grosvenor, added: “Partnering with Matter gives us the ability to deploy capital into what we believe to be attractive investment opportunities across Europe, in sectors supported by strong social and demographic fundamentals. We believe in Matter’s unique approach to investing in and growing real estate platforms and aggregating portfolios with strong cashflow.”
David Christie, CEO at Matter Real Estate, said: “GCM Grosvenor’s investment in Matter is a great endorsement of our investment strategy only one year after our launch. They recognise us as an emerging manager with an experienced team in place. We are looking forward to continuing our strategic relationship beyond their investment in Placefirst.”
About Matter Real Estate
Founded in 2021, Matter Real Estate is a real estate investment firm that focuses on value-add and opportunistic real estate across Europe. Matter focuses on partnering with high-quality management teams to build scaled platforms in evolving sectors. For more information, please visit www.matterrealestate.co.uk
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $71 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. For more information, please visit: gcmgrosvenor.com.
Media Contacts
Matter Real Estate
Greenbrook
James Madsen and Mikaela Murekian | +44 20 7952 2000 | MatterRE@greenbrookpr.com
GCM Grosvenor
Tom Johnson and Will Braun
Abernathy MacGregor | +1 212 371 5999 | tbj@abmac.com / whb@abmac.com
