Newcore Capital is a real estate investment manager specialising in social infrastructure strategies across the UK
Who we are
Newcore Capital Management is a management-owned real estate investment manager with £300m of assets under management. Newcore specifically targets social infrastructure real estate within the UK.
Social infrastructure is real estate that delivers essential services to society. This includes education, healthcare, transport, waste management and retirement living. These sectors are integral to society, benefitting from limited supply, strong demand and generally offering some resilience to technology-driven change.
Newcore manages capital on behalf of institutions, UK Local Government Pension Schemes, family offices and high net worth individuals, through funds and separate accounts. It invests across the risk spectrum.
Newcore is a Certified B Corporation and is FCA authorised. It was awarded Property Fund Manager of the Year at the Property Awards 2021.
ASSETS UNDER MANAGEMENT
CURRENT SECTOR
SPLIT
- Social Infr. 93%
- Other 7%
CURRENT ALLOCATION
BY STRATEGY
- Value-Add 63%
- Core Plus 37%
SOURCE OF
CAPITAL
- Fund Series 60%
- Separate Account I 21%
- Separate Account II 19%
Approach
Newcore’s investment philosophy is based upon purchasing intrinsically good quality and well-located assets for existing use value. Newcore then employs a range of in-house asset management skills to drive value (outlined below). It is through this approach, that Newcore aims to create an asymmetric return profile, which is evidenced through its track record. Newcore has 63 current assets managed, 43 assets realised, with a 15%+ p.a. aggregate IRR blended across all AUM since inception (as at Q4 2021).
Planning Permissions
Sale and Leasebacks
Rent Reviews
Lease Negotiations
Lease Regears
Refurbishments
Newcore Capital predominantly invests via two strategies:
The Newcore Strategic Situations value-add fund series invests into social infrastructure real estate strategies (or assets that can be converted into these sectors) within the UK.
Newcore currently manages c.£150m of UK real estate within the series and is actively investing NSS Fund V.
Newcore manages c.£100m of UK real estate assets on behalf of two-family office separate accounts.
The core / core plus mandates target lower risk opportunities in the same asset classes as the fund series, plus strategic land and forestry.
Please click here for our investment requirements and a list of contacts within our investment team.
ESG
Newcore believes that strong and transparent governance is critical to the sustainable management of funds and its management platform. The business became a Certified B-Corporation in 2020 and is the first dedicated UK real estate investment manager to become one. The B-Corporation is an ethical business movement which legally requires Newcore to balance the interests of all its stakeholders, creating a positive business culture. Additionally the business gives at least 10% of its profits to charity via the foundation that it has set up and actively fundraises for charity. Its 2020-2022 partner is the Aldridge Foundation.
Newcore is committed to addressing climate change. We minimise embodied carbon by, where possible, repurposing existing buildings and are steadily reducing C02 emissions on the road to net zero.
Newcore, as part of being a good corporate citizen, runs its funds onshore, under the UK HMRC tax regime (its funds are tax transparent at entity level). It is committed to paying all central and local government taxes levied on it and its funds; and to ensuring that it is policy compliant in planning applications as to affordable housing, educational and environmental levies made during the planning process.
Team
Hugo Llewelyn
Chief Executive Officer
Jane Adams
HR & Office Manager
Andrew Baum
Chairman
Sophie Cowen
Senior Analyst | Capital Management
Juliette Chatellier
Finance Director
Kate Sandle
Director of Sustainability
Neil Sarkhel
Chief Operating Officer
Harry Savory
Chief Investment Officer
Ravi Patel
Finance Manager
Jonathan Scriven
Director | Investment Management
Piers Windsor
Associate Director | Investment
Harry Smart
Associate Director | Investment Management
Grace Thomas
Financial Accountant
Tom Boize
Associate Director | Capital Management
News
Newcore Capital secures planning consent for 105,000 sq ft life sciences centre at Imperial’s Silwood Park campus
read more
Charitable
Newcore works with Charities involved in education, healthcare, homelessness, rehabilitation and other valuable social services connected to its business. It does this by team fund-raising and also pro-bono work. For example:
- Over the last four years, Newcore has raised £200,000 for its chosen charities, the Clink and Aspire (Oxford).
- Newcore is currently coordinating the regeneration of a church and associated strategic land in Blackbird Leys, Oxford. It is also assisting an academy trust in its property straetgy around educating secondary state school children.
- Newcore also encourages its staff to participate actively in the charities that they wish to support in trustee, volunteer or other supporting roles.
CONTACT US
Newcore Capital Management LLP
First Floor, 50 Marshall Street,
London, W1F 9BQ
Phone: +44 (0) 20 7925 0616
Email: jane.adams@newcorecapital.com