Home > Alerts > United Kingdom > PIC invests a further £40 million in soha housing as part of a long-term relationship
29 October 2019
“Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension funds, has completed a second £40 million long-dated, senior secured private debt investment with Soha Housing, a regulated housing association based in South Oxfordshire. The investment follows an initial £40 million private placement completed in 2018 and will see the housing association build 250 homes per year as part of its development programme. The investments demonstrate an increasing trend within the social housing sector of building long-term relationships with institutional investors.
Key aspects of the transaction:
Soha Housing is an award winning, community-based mutualised housing association working in and around Oxfordshire. It provides almost 7,000 homes for affordable rent and shared ownership for people who prefer to rent or who can’t afford to rent or buy in the private sector. Any surplus it makes is reinvested to develop new homes and look after local neighbourhoods.
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