Private equity firm Teaminvest Private Group Limited (ASX: TIP) has launched the Coliving Future Property Fund for wholesale investors which will invest in co-living related assets.
The fund's management wants to contribute to providing solutions in the co-living space via equity and debt investment in co-living operators, innovation and technology firms, management firms and other service providers.
"I am very excited to be heading this new fund, which intends to provide outsized stable investor returns while making a positive social impact. Co-living properties offer high yield, the lowest risk of vacancy in the residential sector and a clear exit strategy - they can be sold on the residential market. They therefore make for an excellent investment option," Co-living Future Property Fund chief executive officer Craig Wright said.
Wright has two decades of experience of advising investors across financial services, property development, real estate and property technology.
The initial investment for the fund will be $100,000, which has an investment management fee of 1.5 per cent per annum and a 20 per cent performance fee of any fund performance greater than the 5 per cent hurdle rate.