Newcore Capital, the UK-focused real estate investment manager specialising in social infrastructure, has achieved first close for its sixth fund within its flagship value-add series. The manager said Newcore Strategic Situations VI (NSS VI) attracted equity commitments from a local government pension scheme (LGPS) pooled fund, an additional direct LGPS and a European fund-of-funds manager, alongside continued support from existing investors and two new institutional limited partners.
The closing means that NSS VI immediately has £150 million (€173 million) of investment capacity to deploy across opportunities in UK social infrastructure in sectors including healthcare, education, childcare, transport, waste management, energy and storage. NSS VI is a close-ended vehicle with a fixed life spanning seven years.
The fund has an equity hard cap of £300 million targeting final close by the second quarter of 2027, and aims to deliver a net levered internal rate of returns to investors of 12% to 14% per annum, with a maximum leverage of 40% loan to value. Newcore said that it expects NSS VI “to deliver significant positive social impact”, alongside financial returns, given the fund will be taking planning, leasing and refurbishment risk to create and improve assets. The manager added that this change “can and will be measured and reported”.
NSS VI follows the continued success of Newcore’s value-add series, which has deployed a cumulative £275 million in the last 24 months. Since securing £190 million in equity commitments in May 2023, the predecessor fund, Newcore Strategic Situations V, is on track to deliver target returns and measurable positive social impact, the manager said.
Source: IPE Real Assets on 13 May 2026
https://realassets.ipe.com/news/newcore-achieves-first-close-for-sixth-value-add-social-infrastructure-fund/10136687.article