Starlight Investments has successfully raised £680m in capital commitments to expand its build-to-rent portfolio across the UK. This investment, secured through Starlight UK BTR Fund II and associated vehicles, is intended to support the acquisition and delivery of over 6,000 new rental homes.
The fund has already begun deploying capital, with its current portfolio including three developments under construction. Two of these are located in Manchester, and one is in Basildon. Starlight stated that the recent fundraising attracted institutional investors from Europe, Asia-Pacific, and Canada, including both existing and new backers. Homes England’s National Housing Bank also committed to the fund earlier this year.
Raj Mehta, president, global markets at Starlight Investments, noted that the successful close of Fund II reflects strong institutional conviction in their UK residential strategy. Jonnie Milich, head of UK residential at Starlight Investments, added that their focus is now on execution and the next phase of growth. Starlight currently has 12 UK BTR communities at various stages, with a strategy focused on major regional cities and London commuter markets.