Gresham House has partnered with Thriving Investments, a subsidiary of Places for People (PfP), to establish a new affordable housing fund management platform focused on shared ownership. This collaboration will see the Gresham House Residential Secure Income LP (ReSI LP) operate under this partnership, enhancing its investment team to 24 members.

Ben Fry, previously the fund manager for ReSI LP and ReSI PLC, has been appointed as the affordable housing fund director at Thriving Investments. In this role, he will continue to advise ReSI LP while also supporting the broader objectives of Thriving Investments. Fry will maintain his position as managing director of Gresham House’s two for-profit social housing providers.

Recently, ReSI PLC announced a strategy for a managed wind-down and portfolio realization, which includes selling its subsidiary, ReSI Housing. However, ReSI Homes remains unaffected as it is part of the ReSI LP entity.

Fry emphasized the importance of delivering impactful social investment opportunities in housing, aligning with Thriving Investments' mission. He expressed enthusiasm for leveraging his experience to drive the fund's growth and provide value to clients within a unique social impact fund management framework.

To date, the fund has invested nearly £200 million, acquiring a portfolio of 1,557 affordable homes. It aims to build a shared ownership portfolio exceeding £1 billion over the next five years. Under the new partnership, Gresham House will handle regulatory functions, oversight, finance, reporting, client servicing, and fundraising, while Thriving Investments will manage the portfolio and pursue new acquisitions.

No changes are anticipated for ReSI Homes or its board membership. This partnership marks a significant step in Gresham House's strategy to enhance its impact in the affordable housing sector.