Housebuilder HarperCrewe has received a “significant strategic investment” from TPG Angelo Gordon and Ridgeback Group to fund the company’s ambitious expansion plans.
Founded in 2022 by Adrian Bloor – former CEO of Bloor Homes – HarperCrewe has amassed an initial land portfolio of more than 3,000 plots.
The company will use the investment from TPG Angelo Gordon and Ridgeback to grow its existing land bank and scale the delivery of homes at pace. Moving forward, HarperCrewe is targeting the delivery of more than 1,000 homes per annum.
Bloor said: “Consolidation in the UK plc housebuilding sector is creating a path for new entrants that are committed to doing things differently. Our partnership model is a unique proposition and genuine alternative to the typical approach of a listed housebuilder. From our regional offices in Warwick and Nottingham, our dealmaking capabilities take us straight to the source of off-market land with landowners that are looking to leave an enduring legacy.”
Mike Diana, managing director, Europe real rstate at TPG Angelo Gordon, added: “Our investment in HarperCrewe is underpinned by our belief that this is a highly scalable business that has a differentiated approach to housebuilding and serves a fundamentally undersupplied market. With a best-in-class homebuilder in Adrian Bloor and Ridgeback’s operational expertise, together, we believe we are well-positioned to execute on this significant opportunity in the UK and address the demand for new homes therein.”
George Bossom, partner at Ridgeback, said: “We’re excited to enter into this latest joint venture with TPG Angelo Gordon, which represents a timely expansion of our collective focus on housing in the UK. We look forward to working with the HarperCrewe team, leveraging our operational capabilities and expertise to support them as they continue to grow and deliver on their commitment to building much needed homes across a variety of housing tenures.”
