Swiss Life Asset Managers has acquired a minority ownership stake in co-living investment management company True North Management.
True North Management was founded in 2021 by CEO Jill Ju (pictured), formerly of The Collective, and her business partner Ingo Holz. The company’s debut co-living project was Holm Wimbledon Park in London and True North has recently acquired a second asset in a zone one location in the capital.
Swiss Life Asset Managers said the collaboration with True North Management aligned with the company’s broader strategy and the partnership aimed to create an “industry-leading living platform that reinforces its commitment to delivering value and innovation to investors and customers alike”.
Per Erikson, head of real estate at Swiss Life Asset Managers, said: “The co-living sector presents an exciting opportunity within the real estate market, particularly in the UK. We remain focused on exploring new opportunities as we expand our portfolio. True North’s expertise in co-living development, coupled with Swiss Life Asset Managers’ residential know-how and investment capacity, offers the opportunity to become a leader in the evolving co-living landscape.”
Ju added: “Both organisations share a purpose of enabling people and thinking long-term, which made Swiss Life Asset Managers an ideal partner for us. We both see the value of a partnership between a team of entrepreneurial experts and a supportive long-term investor. We are working on an expansive pipeline of new sites to grow our UK portfolio. There is a lack of established investment vehicles in this asset class, and we aim to create a fund vehicle that would enable mission-aligned capital partners to join us on this journey.”
