PfP Capital changes name to Thriving Investments as it targets delivery of 20,000 high-quality homes across the UK

PfP Capital, the socially conscious fund manager focused on the UK Living sector, has today rebranded as Thriving Investments. 

The new name is more closely aligned with the company’s track record, and ambitions, of creating thriving communities and delivering large-scale regeneration projects, with sustainable, high-quality homes at their centre, via a range of investment platforms and tenures.  

Established by Places for People Group in 2017, Thriving Investments currently manages three Living strategies with an AUM of £0.7 billion, on behalf of a diverse mix of investors.  To date it has acquired and delivered over 3,500 Private Rented Sector and for-sale homes and has six urban regeneration projects in England and Scotland underway, as it targets the delivery, alongside its partners, of 20,000 homes over the next decade. 

Cath Webster, Thriving Investments CEO, commented: “At our core, we are a fund manager with a social conscience and a distinct purpose – to turn capital wins into community gains. The Thriving Investments name better reflects this philosophy. It also aligns more closely with our strategic focus on creating residential-led communities with high sustainability credentials that have social value at their centre.

“This marks an exciting new chapter in the company’s evolution.  As investors seek increased exposure to products that tackle the social issues of the day, and the need for innovative solutions to alleviate the chronic shortage of suitable housing in the UK becomes more acute, our vertically integrated, and genuinely differentiated proposition, is ideally placed to meet these twin demands.”

2023 has seen Thriving Investments achieve a number of significant milestones, including: 

• The acquisition of igloo Regeneration. An existing JV partner and award-winning B Corp developer, igloo is the leading regenerative developer of sustainable mixed-use neighbourhoods for communities. Since 2002, it has been creating people- and planet-positive places, each underpinned by the six dimensions of its internationally recognised footprint® methodology.
• Launched a £390 million joint venture with equity investor Housing Growth Partnership, as part of the company’s igloo Development strategy, focused on the delivery of 1,200 sustainable homes across regional city communities. The first scheme to be brought forward is the initial phase, totalling 78 townhouses, of a 400-home development at Dundashill, in Glasgow.
• Committed to four transactions for single-family housing, with three new development partners, for Picture Living, a JV with Universities Superannuation Scheme and one of the first fund strategies focussed on suburban build to rent/single family housing in the UK.
• Reflecting continued appetite from private capital for place-based investment opportunities, secured a further £20 million of investment from Strathclyde Pension Fund into the New Avenue Living Fund, its £200 million keyworker housing strategy.