Advising Broadwood Capital on first closing of inaugural sustainable construction finance fund

A cross-practice team has advised Broadwood Capital, an alternative lender specialising in real estate and development, on the first closing of its new £100 million credit fund, Broadwood Later Living Sustainable Construction Finance LP (the Fund), backed by Aviva Investors.

The Fund aims to provide financial returns to investors by offering short to medium-term mortgage loans to property developers for the development and construction of new build care homes and retirement living projects in the UK.

Our Funds team advised Broadwood on the structuring and implementation of the Fund, working closely alongside Broadwood's other professional advisers, including Khepri. The Finance team advised on certain underlying finance documents before the first closing.

The first closing of the Fund took place in October and further capital raising is anticipated to proceed in Q1 2025. The Fund offers investors access to a credit strategy delivering attractive risk adjusted returns, and a sustainable strategy promoting climate and social agendas.

The team involved in this fundraise included: Shervin Shameli, Eddie Carter and Asra Mansoor (Investment Funds), Chris Cowley and Catie Raymond (Corporate), and Heather Buttle, Fiona Coady and Kate Bowden (Finance).