Islington Council is to invest cash from its pension fund into residential property in order to secure returns to build new homes.
The council will invest £20m of its £800m pension fund with residential property investment manager Hearthstone Investments in a move expected to reduce liabilities and boost the supply of housing in a time of government cuts.
Islington is the first London borough council pension fund to invest in residential property. The TM Hearthstone UK Residential P...
