St Bride’s White Rose Partnership closed with £47.50m of commitments from two Local Authority Pension Funds to invest in real estate opportunities exclusively in Yorkshire.

The partnership was designed to supply extra liquidity to Yorkshire at a time of distress and targeted assets of lot sizes between £2m and £5m to take advantage of a lack of competition at this price point. The partnership has a seven-year life and is targeting a 8.50% annual total return over its life, with a minimum of 6% expected to come through income.