UBS Asset Management’s real estate multi-manager division has played a pivotal role in launching a new UK residential income fund, managed by Matter Real Estate. This initiative, marked by UBS’s significant £105 million investment, focuses on the Matter UK Residential Income Fund (MUKRIF). The fund is primarily geared towards core single-family properties.

The initial funding provided by UBS has facilitated the seeding of the fund with assets from Placefirst, a portfolio company of Matter. Placefirst will also maintain its role in property management. The fund’s starting portfolio encompasses more than 560 single-family rental homes, strategically located across five sites in various towns including Liverpool, Leeds, and Sheffield.

This move represents the second substantial direct institutional capital commitment for Matter’s Placefirst platform in the last 18 months, reflecting growing investor confidence. David Christie, CEO of Matter Real Estate, highlighted UBS’s commitment as a strong endorsement of Matter’s market expertise and its adept management, especially in guiding Placefirst through its early development stage.