Yoo Capital Fund II L.P secure a £30m investment from The London Fund

The London Fund “the Fund” has committed to a £30 million investment to the Yoo Fund, a real estate fund managed by its general partner which is owned by Yoo Capital Management LLP and the Astarte Special Opportunities Platform L.P.

The Yoo Fund focuses on the redevelopment of existing assets in Greater London. Sectors that Yoo Capital defines as undersupplied or mispriced, such as life sciences, healthcare, and creative industries will be the main focus.

This marks the second investment for The London Fund. The previous was Delancey and Oxford Residential’s DOOR SLP build to rent housing platform to support the development of new quality housing stock for London.

Shepherd’s Bush regeneration project on the horizon

The 450,000-square-foot site in Shepherd’s Bush Market aims to be transformed into affordable housing and office space, including incubator spaces for tech and biotech start-ups and studios.

Existing traders who operate in the 107-year-old market will be protected as the heads of terms are already secured with 80% of the current traders.

Furthermore, by building relationships with the local community Yoo Capital aims to connect with local primary schools, host free events for residents, and community support

Bringing back the theatre to the West End

Yoo Capital also aims to use the investment funds to transform Saville Theatre, a 110,000 square foot Grade II listed cinema, back into a theatre.

When it first opened doors in the 1930s it was originally a theatre. Yoo Capital is also working with prospective theatre operators to secure discounted tickets for local residents. Yoo Capital also hopes to include additional floors to create a boutique hotel.

Richard Tomlinson, Chief Investment Officer, Local Pensions Partnership Investments, said: “We are excited to be working with an experienced team that has invested more than £11 billion in private equity investments over 25 years and bring strong relationships with London boroughs. Through this partnership we have the opportunity to secure the long-term future of two London landmarks, demonstrating the Fund’s investment strategy to support large-scale regeneration projects that serve local communities, create jobs and provide affordable housing, alongside wider social and environmental benefits.”

Mike O’Donnell, Chief Executive Officer, London CIV, concludes: “As the second investment by The London Fund, I look forward to making further progress in our strategy to deploy capital to long-term and sustainable projects in London which benefit local communities, all while offering good financial returns.”