Eversheds Sutherland has advised M&G Real Estate on the launch of its new Shared Ownership Fund.

The fund has so far raised £215m of initial investment from Homes England, Hyde, two local authority pensions schemes and two M&G client funds.

It is one of the first of its kind investing in shared ownership housing, the first stage of which will see the Fund make a £61 million purchase of 422 shared ownership homes in London and Kent.

The Eversheds Sutherland team advised on all key aspects of the fund and was led by financial services Partner, Richard Batchelor, assisted by Associate Grace Li with tax support provided by: Partner Paul Beausang, Legal Director Camilla Spielman, and Principal Associate Charlotte Stodell.

Jane Lancaster, a Principal Associate in the global law firm’s real estate group supported on the social housing elements of the fund.