An investment and fund management partnership has committed £38m through a forward funding agreement to deliver 160 affordable homes in Cam, Gloucestershire.
Thriving Investments, which describes itself as a socially conscious fund manager, and specialist alternative asset manager Gresham House have made the investment on behalf of the partnership’s shared ownership strategy: Gresham House Thriving Investments Residential Secure Income LP (ReSI LP)
The development will be activated as part of the Gloucestershire local investment series, and is said to represent a significant step in meeting local demand for high-quality, energy-efficient housing.
The homes will be delivered by Vistry, supported by grant funding from Homes England, and will deliver a mix of shared ownership, social rent, and affordable rent alongside private sale homes on site delivered with Vistry.
All properties will meet EPC A standards, meeting strong ESG credentials in line with ReSI LP’s commitment to environmental performance and long-term social value creation. The first homes are scheduled for completion in the second quarter of 2026, with full delivery by the fourth quarter of 2028.
The investment will be funded by a commitment to ReSI LP from Gloucestershire Pension Fund. This follows a growing trend of Local Government Pension Schemes (LGPS) seeking to deploy capital into local, place-based investment opportunities that generate both social impact and sustainable financial returns.
To date, ReSI LP has deployed over £450m, amassing a portfolio of 2,026 affordable homes across England, of which more than 1,100 are occupied with the balance in development. This latest investment brings the fund’s footprint in the South West to over 900 homes.
Ben Fry, fund manager, Gresham House Thriving Investments Residential Secure Income LP, said: “This investment demonstrates the power of place-based capital to deliver long-term positive impact for communities.
“We’re proud to be working alongside Vistry to bring forward a high-quality, sustainable housing scheme that addresses real economic and social needs for local housing in Gloucestershire. The development will provide families, individuals, and key workers with access to secure and affordable housing, alongside robust returns for investors.”
Supriya Ray, regional managing director, Vistry Cotswolds, said: “We’re pleased to be providing a further 266 homes in Cam, having already successfully delivered 238 homes on the wider site. By working in partnership with Thriving Investments, more than half of them will be available in affordable housing tenures, making a major contribution to the area’s affordable housing supply and giving local people genuine opportunities to own or rent a quality new home.”
Matthew Trebilcock, head of pensions, Gloucestershire Pension Fund, added: “This investment underscores the fund’s commitment to supporting local communities and tackling the chronic shortage of affordable housing, providing stability and security for those on low to moderate incomes. At the same time, it enables us to deliver long-term financial value for its pension scheme members while addressing a critical local need.”
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