Bridges Ventures has held a £168 million first close on its fourth property fund only three months after launch. The capital will be invested across the United Kingdom in niche sectors and emerging areas.
Bridges Property Alternatives Fund III, the vehicle's predecessor, held a £212 million final close in June 2015, surpassing its initial target.
The fund has received strong support from investors, showcasing a growing interest into sustainable and impact investing. Existing LPs, in particular local authority pension funds, have been the largest institution type to commit to Bridges Venture's latest fundraise.