News in brief - 4 November 2022

The pension Insurance Corporation (PIC) has invested £200m in a build to rent skyscraper in Birmingham.

The investment will finance the construction of 667 residential apartments across two towers in central Birmingham on an existing brownfield site. The work is expected to create over 300 new jobs, with plans to create a student academy to provide opportunities for local students to gain work experience on the site. One Eastside will be developed by specialist residential developer Court Collaboration.

Brunel Pension Partnership “cornerstone investor” in Orchard Street Investment Management’s inaugural Impact Fund, Orchard Street Social and Environmental Impact Partnership (SEIP).

Just under £90m has been committed at first close, including Brunel Pension Partnership, on behalf of eight of its ten underlying local authority partner funds. This capital also includes co-investment committed by Orchard Street’s partners and members of Orchard Street’s senior team. The fund, which has been approved by The Townsend Group, will target value-add real estate investment opportunities with the potential to generate a measurable social and environmental impact.

Broadstone has announced a new partnership with Workstars.

The partnership will allow Broadstone to offer Workstars’ employee recognition SaaS platform to its corporate clients, enabling businesses across the UK, as well as internationally, to boost their employee engagement strategy. The Workstars platform lets businesses configure their own employee recognition programme encompassing online rewards and social recognition, which can be integrated into existing work communications channels.

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