Newcore is shortlisted for the Best Strategy category at the 2024 Pensions for Purpose Content Awards

category

Awards, News

date

September 23, 2024

We are delighted to share that Newcore has been shortlisted for the Best Strategy category at the Pensions for Purpose Content Awards for its paper entitled, ‘The Future of UK Social Infrastructure’.

The report, written with Professor Peter Madden, OBE, outlines opportunities for private sector investment into UK social infrastructure.

It sets out how investors and the real estate industry can understand and respond to challenges like climate change, resource scarcity, ageing populations, and the advent of new technologies like AI. New approaches to sustainability challenges, changing demographics, UK food production, and the further development of the space economy will drive growth of new sectors.

Investors expect that increased pressure on government spending will likely result in needing further private sector involvement in the provision of assets that serve essential needs. “There will be need to be more private-public funding to deal with a shortfall of government resourcing”, the report says.

Future need is influenced by structural shifts, such as ageing, widening wealth inequality, automation and the climate crisis – all of which will change how and where social infrastructure is delivered.

Read the full report here.

View the shortlist here.

Newcore acquires UK’s largest EV hub

category

Article, News

date

September 3, 2024

UK social infrastructure specialist has acquired South Mimms motorway service area, home to the UK’s largest EV Hub
The asset was acquired for Newcore’s latest value-add fund, Newcore Strategic Situations V (NSS V), which closed in May 2023 with £190m in equity commitments
Notable investors into the fund include the Merseyside and Clwyd local government pension schemes

UK-focused social infrastructure real estate investment manager Newcore Capital (‘Newcore’) has acquired the investment long leasehold interest in the Welcome Break motorway service area (‘MSA’) at South Mimms, recognised as the UK’s largest EV Hub, for an undisclosed sum.

The 11-acre MSA occupies a key strategic location at the junction between M25 (J23) and A1 (M) that sees over 200,000 daily movements. The site features 70,000 sq ft across the amenity building, restaurants and hotel.

The property is let to Welcome Break until 2036 with passing rent of £1.6m per annum. The rent is structured as a ground rent and is subject to open market review in February 2026.

The asset was purchased on behalf of Newcore’s latest value-add fund, Newcore Strategic Situations V (‘NSS V’), which reached a final close at £190m of equity commitments in May last year and is still in the investment phase. Support for the fund included the Merseyside and Clwyd local government pension schemes. NSS V remains active in the market for MSA as well as other social infrastructure assets, including waste, open storage, healthcare and funeralcare.

Recent acquisitions include a short-leased 5.6-acre Tesco supermarket in the Bromley-by-Bow regeneration area, East London, and an NHS-backed GP surgery in Kent.

Harry Savory, CIO, Newcore Capital, said: “We are delighted to have purchased the service area at South Mimms for NSS V. It is a key strategic holding in UK transport infrastructure; it has a well-established trading position and is virtually unopposed from competition along the northern part of the M25. The site is uniquely positioned to capitalise on the transition towards EV and this will be key to delivering strong future performance”.

On behalf of NSS V, Newcore has also received planning consent for the redevelopment of the former-Royal Mail delivery office in Blackheath as a 120-place children’s nursery and 9 residential apartments in June 2024. The following month, Newcore completed the letting of a 25,000 sq ft school in Milton Keynes to Compass Schools, a national operator in children services, specialising in SEN schools, fostering and residential care.

Hugo Llewelyn, CEO, Newcore Capital, said: “The acquisition of South Mimms MSA follows an active summer for our latest value-add vehicle, with planning consent secured for new childcare provision and residential accommodation, as well as a leasing agreement for a specialist education provider. One of the additional benefits of investing in social infrastructure-related real estate is the positive impact our assets can have, whether that is supporting the decarbonisation of our transport system or providing much needed childcare or educational services.”

Newcore is shortlisted for the 2024 Property Week ESG Edge Awards

category

Awards, News

date

August 19, 2024

We are pleased that Newcore has been shortlisted for the 2024 Property Week ESG Edge Awards in the category for ESG Investor of the Year.

View the shortlist here.

ESG & impact report 2023-2024 published

category

News, Report

date

July 24, 2024

Newcore is pleased to publish its 2023-2024 ESG and impact report

Newcore Capital’s latest ESG & impact report for institutional funds demonstrates our commitment to create and manage genuinely sustainable investments which have continued to pay dividends for the Newcore business and our stakeholders in the last turbulent year.

Read the report here.

Key movements over the year to note:

Newcore recertified as a B Corp with 164.6 points in January 2024 making it the highest scoring real estate and infrastructure investor in the world.
Development and integration of our Three Pillars of Sustainability, recognising that sustainability does not sit at the fund level but needs to be integral to and consistent throughout the management platform, funds and assets.
75% of assets are impactful, generating positive outcomes for people and the planet
Newcore’s contribution towards achieving impact is medium/high for 77% of total assets
Creation of over 3,000 educational places
Data continues to be key focus for Newcore when looking to future-proof our assets. Our in-house comprehensive dashboard created this year is testament to this.
Newcore’s impact is not isolated from its financial performance, delivering an aggregate IRR of 10.2% to investors since inception

“The best overall impact that Newcore can have will be continuing to invest sustainably in UK social infrastructure, providing sensible risk-adjusted returns to its pension fund and other clients with best-in-class governance, while enabling affordable, socially useful and environmentally future-proofed buildings in conservative fund structures. The principles of the B Corporation movement, to which we subscribe, are helpful in navigating this path”, Hugo Llewelyn, CEO

Newcore is shortlisted for the 2024 Corporate Finance Awards

category

Awards, News

date

July 15, 2024

We are pleased that Newcore has been shortlisted as a finalist for the 2024 Corporate Finance Awards -Sustainable investment strategy of the year.

View the shortlist here.

Newcore strengthens leadership team with new Head of Institutional Capital

category

News

date

July 8, 2024

Newcore has appointed Anne Copeland as Head of Institutional Capital and responsibility for creating and managing funds for the firm’s institutional clients
Copeland has 29 years of relevant experience – previously Co-Head of Social Infrastructure at Alpha Real Estate and at Aviva and Aegon – where she pioneered the development of healthcare and housing focused funds.
Copeland will join officially in August.

Newcore Capital, a UK-focussed real estate investment manager specialising in social infrastructure, has created a new role in the senior management team by appointing Anne Copeland as Head of Institutional Capital. Copeland will work directly with Chief Operating Officer Neil Sarkhel and other members of the senior team, to create and manage funds for Newcore’s institutional clients.

Copeland brings with her over 29 years of experience to the role, having previously served as Co-Head of Social Infrastructure at Alpha Real Estate, where she spent nearly two years. Anne has also held senior fund management roles at Aegon, Aviva, and Schroders, and pioneered the development of specialist funds focused on social infrastructure, healthcare and housing.

Anne is the eighth hire in the past year – including the recently appointed Charles Week as a Senior Advisor – as Newcore continues to grow as a sustainable capital management social infrastructure investment business for institutional investors and family offices. Her addition has achieved a 50/50 male-to-female ratio within the senior management team.

Hugo Llewelyn, CEO, Newcore Capital, said: “We are delighted to welcome Anne Copeland to Newcore. Having known Anne since 1995, I highly regard her expertise in managing institutional capital.

“Her commitment to creating ethical, sustainable solutions in UK social infrastructure, social care and housing aligns perfectly with Newcore’s values. We have long sought an alternative to current social housing models, and Anne brings the shared vision, experience, and energy to achieve this.”

Anne Copeland, Head of Institutional Capital, Newcore Capital said:“This week marks a crucial turning point, offering a timely and incredible opportunity for patient capital to support society’s most vulnerable individuals.

“I am proud to join Newcore, where a deep sense of social purpose is ingrained both individually and collectively, reflecting their status as a highly regarded B Corp.”

This hire follows the close of Newcore’s fifth value-add fund, Newcore Strategic Situations V, for £190 million and the launch of its new core-plus fund, the Newcore Social Infrastructure Income Fund, that seeks to raise £375m to address critical societal needs, with a first close expected during Q4 this year.

Social infrastructure: New kid on the block

category

Featured, News

date

July 8, 2024

“An ageing population will translate into increased demands on primary healthcare…while widening wealth inequality will increase the number of people reliant on the decreasing provision of publicly funded essential services”.

Our CEO, Hugo Llewelyn recently contributed to Christopher Walker’s piece for IPE Real Assets – Social Infrastructure: New Kid on the block. Whilst not so ‘new’ for Newcore, having invested in the space since the firm’s inception in 2011, the article explores the societal and demographic themes fuelling the sector, the various means in which investors can invest in the sector and the inherent need for new sustainable sources of capital to fund the essential services which have been traditionally funded by local or central government.

Read the full article here.

Impact Investor, Christopher Walker x Newcore Capital – Infrastructure: Beyond the energy transition

category

Featured

date

July 5, 2024

Impact Investor x Newcore Capital

Our CEO, Hugo Llewelyn recently contributed to Christopher Walker’s article “Infrastructure: Beyond the energy transition”. The article explores the sector of sustainable infrastructure and how the term encompasses more than ‘renewables’ and ‘wind farms’.

It shows a “broader definition” of the term is key for the fund management industry as well as a focus on communities and social impact, taking into consideration the difficulties and misconceptions that can arise with this.

Investors also need to consider the structure of the fund they are investing in, in terms of their operations and tax structuring to ensure a more sustainable approach to capital management in private equity, infrastructure and real assets.

Newcore wins Property Fund Manager of the year 2024

category

Awards, News

date

July 5, 2024

On 3rd July, members of the Newcore team attended the 2024 Property Week Awards at the Grosvenor House Hotel. We are delighted to announce that Newcore was awarded Property Fund Manager of the Year against some tough competition.

“A fantastic winning entry from Newcore Capital! They showed genuine innovation and risk-taking in a market desperate for investment, it has achieved a stand-out performance with a balanced team that has made some great investments. Modest in scale compared to other entrants, but an organisation that is living its values and making a true impact both within its own organisation and across the projects it’s involved in”.

Hugo Llewelyn, CEO, said: “We are thrilled to receive this award, and to be recognised for our contribution to the sector. Thank you to the judging panel for recognising the team’s efforts”.

Newcore is a finalist for the 2024 EG Awards

category

Awards, News

date

July 2, 2024

We are pleased to be a finalist for the 2024 EG Awards in the Alternatives Specialist category.

View the shortlist here.

We look forward to the results!

Author: Lucy Macewan

Newcore is shortlisted for the Best Strategy category at the 2024 Pensions for Purpose Content Awards

Related articles

Newcore acquires UK’s largest EV hub

Related articles

Newcore is shortlisted for the 2024 Property Week ESG Edge Awards

Related articles

ESG & impact report 2023-2024 published

Related articles

Newcore is shortlisted for the 2024 Corporate Finance Awards

Related articles

Newcore strengthens leadership team with new Head of Institutional Capital

Related articles

Social infrastructure: New kid on the block

Related articles

Impact Investor, Christopher Walker x Newcore Capital – Infrastructure: Beyond the energy transition

Related articles

Newcore wins Property Fund Manager of the year 2024

Related articles

Newcore is a finalist for the 2024 EG Awards

Related articles