Matter Real Estate welcomes GCM Grosvenor funds as a new strategic investor as part of a £140m equity recapitalisation of Placefirst

Rhea-AI Summary

GCM Grosvenor (Nasdaq: GCMG) has invested £140m in a recapitalisation of Placefirst, a Matter Real Estate portfolio company. This investment supports Placefirst's goal of building a 6,500 unit, £1.3bn single-family rental portfolio in the UK. Placefirst achieved record growth, reaching 1,500 homes in April 2022, with plans for over 1,000 more. GCM Grosvenor's investment is pivotal for fostering a strategic relationship with Matter, aimed at exploring further opportunities in Europe.

Positive

• GCM Grosvenor's £140m investment endorses Matter Real Estate's strategy.
• Placefirst reached 1,500 homes in April 2022 and has a pipeline of over 1,000 units.
• The new capital will help establish a £1.3bn portfolio of 6,500 units.

Negative

• None.

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

FAQ

What is GCM Grosvenor's recent investment in Placefirst?

GCM Grosvenor has invested £140m in Placefirst as part of an equity recapitalisation to support its growth in the single-family rental market.

How many homes does Placefirst currently operate?

As of April 2022, Placefirst operates 1,500 homes with plans for over 1,000 additional units.

What is the total value of Placefirst's planned housing portfolio?

Placefirst plans to establish a single-family rental portfolio valued at £1.3bn, consisting of 6,500 units.

What role does GCM Grosvenor play in the investment?

GCM Grosvenor, on behalf of its investment programs, is the strategic investor providing crucial capital for Placefirst's growth.